House Health Care Plan Would Push Income Redistribution to $1.4 Trillion
October 6, 2009
If H.R. 3200, the health care reform bill that cleared the House Ways and Means Committee, becomes law, an additional $122 billion would be redistributed from the top-earning 30 percent of the income spectrum, for a total income redistribution of about $1.4 trillion, according to new Tax Foundation Fiscal Fact released yesterday.
The biggest beneficiaries of HR 3200’s redistribution would not be low-income families, but middle-class families, especially those making between $65,704 and $112,721, who would see an average benefit of about $1,900. In fact, even in the 60 percent to 70 percent income group, earning up to $141,101, the average family would gain almost $1,000.
View Tax Foundation Fiscal Fact No. 193, “Distributional Effects of the House of Representatives’ Health Care Reform Bill” or a slideshow on the findings.
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