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Tags: Buffett | Attack | Health | Bill | Relief | Rich

Buffett Calls GOP Health Reform Bill 'Relief for the Rich Act'

Getty/Jemal Countess

Wednesday, 28 June 2017 08:23 AM EDT

Billionaire investor Warren Buffett renewed his attack on the Republican effort to overhaul the U.S. health-care system, saying that it would be a handout to wealthy people like him.

In an interview with PBS NewsHour that aired Tuesday, Buffett said that the version of the legislation passed by the House of Representatives would have cut his most-recent tax bill more than 17 percent, or $679,999.

The biggest beneficiaries would be couples with annual income of more than a quarter-million dollars, he said in an interview taped last week.

“You could entitle this, you know, ‘Relief for the Rich Act,”’ Buffett said. “I have got friends where it would have saved them as much as — it gets into the $10-million-and-up figure.”

Republican leaders in Congress have had a difficult time advancing their legislation. Senate Majority Leader Mitch McConnell’s plan to pass a bill this week fell apart on Tuesday as a vote was postponed amid opposition from both the conservative and moderate wings of his party.

Buffett, 86, criticized the Republican plan last month at the annual meeting of his conglomerate, Berkshire Hathaway Inc.

At the time, he said that health costs — which have risen faster in the U.S. than in other developed nations — are a “tapeworm” hurting competitiveness.

© Copyright 2023 Bloomberg News. All rights reserved.

He tells PBS that House version would have cut his taxes; Buffett: I have friends who would save more than $10 million
Buffett, Attack, Health, Bill, Relief, Rich
Wednesday, 28 June 2017 08:23 AM
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