Top 1% of earners would have $33k tax cut from ACA repeal — 4 things to know

High earners throughout the United States would experience tax reductions from an ACA repeal, a Tax Policy Center analysis found, according to The Hill.

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Here are four things to know:

1. The top 1 percent would have a $33,000 tax cut, on average, from an ACA repeal.

2. Middle- and low-income Americans would either have a minimal tax cut or no change in taxes from such a repeal.

3. The analysis found a small portion of Americans would face a hefty tax increase, as they would lose ACA tax credits or subsidies.

4. The ACA places two taxes on high-income earners that helped support the ACA expanding coverage. Such taxes include a 0.9 percent payroll surtax and a 3.8 percent investment income tax for Americans making more than $200,000 annually.

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Obama administration takes stand on ACA’s behalf; Urges Republicans to consider repeal’s ramifications

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