GOP health plan: Tax cuts for rich; hits older people hard

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WASHINGTON — The House Republican health care plan backed by President Donald Trump provides billions of dollars in tax cuts for wealthy families and insurance companies, but it hits older Americans hard with higher insurance premiums and smaller tax credits.

In all, the bill provides $883 billion in tax relief by repealing almost all of the taxes enacted under President Barack Obama's Affordable Care Act, according to estimates by the nonpartisan Joint Committee on Taxation, the official tax scorekeeper for Congress.

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