Republican healthcare bill ‘a huge tax cut for guys like me’: Buffett

‘Billionaire American investor Warren Buffett has denounced the Donald Trump administration’s healthcare overhaul as a huge tax cut for wealthy individuals like himself.
The US House of Representatives on Thursday narrowly – 217 to 213 — approved legislation to repeal and replace former President Barack Obama’s signature health insurance program, known as Obamacare. No Democrats backed the American Health Care Act (AHCA), and some 20 Republicans voted in opposition.
The Trump administration’s healthcare bill would repeal most of the taxes that paid for Obamacare, which is formally known as the Affordable Care Act. The AHCA bill however faces a likely overhaul and uncertain passage in the Senate, where Republicans have a very narrow majority.
Speaking at an annual conference of his company’s shareholders in Omaha, Nebraska, on Saturday, Buffett said that healthcare costs were the biggest problem facing US businesses, adding that his federal income taxes last year would have gone down 17 percent had the new healthcare law been in effect.
“So it is a huge tax cut for guys like me,” he said. “And when there’s a tax cut, either the deficit goes up or they get the taxes from somebody else.”‘
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