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Poor Americans would lose billions of dollars worth of federal benefits under the Senate GOP tax bill, according to a new Congressional Budget Office report.

This is largely because the legislation would eliminate the individual mandate, which requires nearly all Americans to get health insurance or pay a penalty. This would result in 13 million fewer people having coverage in 2027, the CBO found.

 Many of the folks who would forgo coverage would have lower or moderate incomes and would have qualified for Medicaid or federal help paying their premiums or out-of-pocket health expenses, CBO found.

Those earning less than $40,000 a year would be worse off in 2025, when the bill’s provisions would mostly be in effect, according to the report released Sunday. On the flip side, those with higher incomes would enjoy tax breaks.

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GOP tax bill includes repeal of Obamacare's individual mandate
GOP tax bill includes repeal of Obamacare’s individual mandate

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Click link below for article:

http://money.cnn.com/2017/11/27/news/economy/senate-gop-tax-bill-poor/index.html

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