Tags: Tom Cotton | Americans | Tax Credits | Obamacare

Tom Cotton: Americans Should Get Tax Credits, Not Penalties on Obamacare

(Fox News/"Fox & Friends")

By    |   Thursday, 03 November 2016 12:37 PM

Obamacare has made the nation's healthcare system worse, and rather than penalizing Americans who can't afford to buy coverage, the government should give tax credits to families that will suffer because of the insurance law, Sen. Tom Cotton said Thursday.

"A lot of Americans are going to be in for a very rude surprise come tax season after the new year," the Arkansas Republican told Fox News' "Fox & Friends" correspondent Ainsley Earhardt. 

"If you can't afford your Obamacare insurance, you are going to owe the government a $700 penalty, and if you have a child that you can't afford insurance for, it's $450. You are looking at over $2,000 for a team of four and a tax penalty because you can't afford the insurance that Obamacare made unaffordable."

Instead of penalties, said Cotton, "if your premiums are increased by more than 10 percent, you should be exempt from that tax penalty. Ultimately, Obamacare has made our health care system worse and we need Democrats to stop defending the law and fix the problem."

President Barack Obama had promised that Obamacare would save the average family $2,500, Cotton said, but last week the administration announced premiums would go up by 25 percent or more.

"That's just the start of it," the senator said. "A lot of these plans have deductibles of $6,000 a year or more and most working families for around country, they are paying and getting nothing in return. Some people are paying what it would cost as much as what some would pay for a home."

Cotton also reacted to news that the FBI has been investigating the Clinton Foundation for some time, agreeing that based on the reports, the probe is the "world's largest money laundering and influence peddling investigation," and the controversies between her use of a private email server and the foundation "are the same controversy."

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Obamacare has made the nation's healthcare system worse, and rather than penalizing Americans who can't afford to buy coverage, the government should give tax credits to families that will suffer....
Tom Cotton, Americans, Tax Credits, Obamacare
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2016-37-03
Thursday, 03 November 2016 12:37 PM
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