Axe ObamaCare’s individual mandate and let Americans keep more of their money
A primary goal of tax reform is to let Americans keep more of their hard-earned money and reduce the government’s undue influence over people’s personal choices. The individual mandate not only requires Americans to spend their hard-earned money, but it is literally a tax on our personal choices.
Zeroing out the individual mandate would put between $695 and $13,100 of individuals’ and families’ earnings back into their pockets if they decide it is not beneficial for them to purchase the type of health insurance that Obamacare requires.
For many individuals, buying overpriced and highly regulated health insurance through Obamacare is not a sensible use of their hard-earned money. That’s why, according to the IRS, 6.2 million Americans decided to pay Obamacare’s uninsured penalty, or “tax,” in 2015; and 12.7 million obtained exemptions from it. Another 4.3 million people refused—without consequence—to tell the Internal Revenue Service whether or not they have insurance coverage.
The Congressional Budget Office estimates that repealing or zeroing out the individual mandate penalty would increase the number of uninsured individuals by 13 million in 2027, but less than half of that increase—5 million—would come from people abandoning their individual and Obamacare plans. Another 5 million would drop their virtually free Medicaid coverage, and 2 million would choose to give up their employment-based coverage. (Figures don’t add due to rounding.)
Congress should axe ObamaCare’s individual mandate that forces individuals to buy something they don’t want and use the additional $338 billion in revenues to reduce rates across the board and put money back into the pockets of Americans. Click here to support President Trump’s tax reform plan that could provide much needed relief for all Americans.