Democrats' 'Medicare-for-all' push will wipe out Americans' private plans: Rep. Kevin Brady
The “Medicare-for-all” plan introduced by House Democrats will wipe out all the private plans most Americans get their healthcare, according to Rep. Kevin Brady.
“It takes away children's health insurance program, takes away a number of other very, I think, good programs that provide good healthcare,” Brady told FOX Business’ Stuart Varney on Thursday.
The Medicare for All Act of 2019 was introduced Wednesday by Rep. Pramila Jayapal of Washington and Rep. Debbie Dingell of Michigan. The legislation calls for the federal government to foot the bill for health coverage for every American. The proposal includes paying for premiums, copays or deductibles, while expanding the Medicare program.
“It also, I think, jeopardizes Medicare for seniors by overloading it and then of course, it would require doubling all taxes in America just to get a shot at paying for it,” Brady said on “Varney & Co.”
Brady also discussed the impact of the cap on state and local tax deductions (SALT) in the new tax legislation on residents in high-tax states such as New York, New Jersey, California and Illinois. The Treasury Department says 11 million tax filers are getting hit with a $10,000 limit on state and local tax deductions SALT from the new tax reform law.
"All this new tax code did was pull back the curtain so those high taxes weren't hidden anymore. So I really think that the whole, New York, these states are growing, fantastic economics,” he said. “But unless they lower those brutal high taxes, they're going to see more people leave, they're going to see less wealth in their states. They really do need to address this.”
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Despite strong economic climate, Brady said, millennials are leaving the high-tax states because they are becoming almost unlivable.
“I think the new tax code, at the end of the day, is really going to drive taxes over time down, in these states, because there's such outliers,” he said on “Varney & Co.”