FOR IMMEDIATE RELEASE
Tuesday May 2, 2017
Contact: Jake Lewis, Illinois Working Together
Governor Rauner Would Pocket Millions from TrumpCare
President Donald Trump’s proposed replacement of the Affordable Care Act would save Illinois Governor Bruce Rauner millions of dollars each year by eliminating a tax provision that funds health insurance for working people under Obamacare.
In 2015, Gov. Rauner paid $6.6 million in the Net Investment Income Tax, a provision created by the Affordable Care Act that applies only to the wealthiest individuals and is a critically important source of funding for the ACA’s health insurance premium subsidies. See here for Gov. Rauner's 2015 tax return; Net Investment Income Tax is listed on line 62.
The American Health Care Act — TrumpCare — would eliminate the Net Investment Income Tax, simultaneously gutting ACA funding and funneling money to rich individuals like Rauner.
Gov. Rauner also paid $1.8 million in the Net Investment Income Tax in 2014 and $1.9 million in 2013, running his three-year savings to $10.3 million. According to the Joint Committee on Taxation, repealing the Net Investment Income Tax would cost the U.S. Treasury $158 billion over 10 years.
If the Affordable Care Act is repealed, 1.2 million Illinoisans would lose health coverage according to the Center on Budget and Policy Priorities. To date, Rauner has refused to take a position on the Trump-GOP effort to repeal the ACA.
“After supporting Donald Trump in the 2016 Presidential campaign, Gov. Bruce Rauner now stands to save millions if Trump guts health coverage while slashing taxes for the rich,” said Jake Lewis, Campaign Director for Illinois Working Together. "The people of Illinois deserve to know where Gov. Rauner stands: Will he defend the 1.2 million Illinoisans who will lose care if the Affordable Care Act is repealed, or would he rather pocket millions of dollars while hard-working people lose their health care?"