Senate Finance Committee Chair Orin Hatch (R-UT) late yesterday released a draft of Senate Republicans’ proposal to overhaul the tax code. Unlike the House Republicans’ proposal, which passed the Ways and Means Committee yesterday on a party-line vote, the Senate proposal would not eliminate hospitals’ ability to access low-cost capital financing through tax-exempt private activity bonds and would not make changes to taxpayers’ ability to itemize deductions for large medical expenses. Both the House and Senate proposals would eliminate the ability of states to execute “advance refundings” of outstanding tax-exempt bonds and would impose a 20% excise tax on pay for certain employees of nonprofits. Neither bill currently contains a provision to repeal the Affordable Care Act’s individual mandate to purchase health insurance. However, such a provision is still under consideration. The Senate Finance Committee’s markup of the draft is scheduled to begin at 3 p.m. ET on Monday. The full House will also debate tax reform next week.

Related News Articles

Headline
The Centers for Medicare…
Perspective
Last week, I shared a few areas where we can advance health in America this year, even in a divided Congress.
Headline
To encourage drug companies to seek approval for over-the-counter versions of naloxone, an emergency treatment for opioid overdose, the Food and Drug…
Headline
Patients in the most rural counties had an 87 percent greater chance of receiving an opioid prescription from their primary care provider between January 2014…
Headline
Continued rising drug prices, as well as shortages for many critical medications, are disrupting patient care and forcing hospitals to delay infrastructure and…
Headline
AHA said it generally supports CMS’ efforts to grant greater state-level flexibility and reduce regulatory burden, but urged the agency to ensure Medicaid…