Healthcare bill would cut taxes by $663 billion

The healthcare bill passed by the House earlier this month will cut taxes by about $663 billion over the next 10 years, according to an analysis by the nonpartisan Joint Committee on Taxation.

The estimates don’t include tax changes affecting health insurance coverage, which were included in a separate analysis by the Congressional Budget Office. 

{mosads}One of the largest sources of savings in the bill, estimated at $144 billion over a decade, would be the repeal of ObamaCare’s annual tax on health insurance providers. Ending the tax is a priority for insurers, and both Democrats and Republicans have voted to delay its start.

The repeal would be retroactively effective as of Jan. 31, 2016.