The IRS overpaid nearly $4 billion to Obamacare customers through tax credits last year, and because of the way the law is written it can’t even try to collect on a quarter of that, the Treasury Department’s inspector general reported this week.
All told, the Treasury Department paid out roughly $27 billion in Obamacare subsidies in the 2018 tax-filing season, with overages accounting for $3.7 billion of that. Only $2.7 billion was recaptured.
The $1 billion left over is small compared to the overall federal budget, but it is 20 percent of the president’s border wall funding request that’s spurred the current government shutdown.
Overpayments were built into Obamacare, with most people who buy insurance on the Affordable Care Act’s exchanges collecting subsidies through the IRS to help them afford their plan premiums.
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Really?
ReplyDelete"...because of the way the law is written" courtesy of Obamacrats. And taxpayers were stupid enough to vote enough of them back into office to stop the progress the Trump administration was accomplishing to fix some of this mess.
ReplyDeleteStill better than the endless wars we would have gotten with McCain?
ReplyDeleteOMG Why did they pay out subsidy payments for Obamacare in the first place? Get rid of this drain on our tax dollars.
ReplyDeleteThe law was written by the insurance lobby.
ReplyDeleteWake up.
Democrats and Republicans work for the elite bankers of Europe.
Period.
Check Obama's checking account. Oh you can't it is sealed in some Swiss bank account.
ReplyDelete