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The number of Americans facing a tax penalty under president Obama's health care overhaul is jumping dramatically.
And most of those facing that tax increase or in the middle class latest report from the CBO the Congressional Budget Office finding six million.
Uninsured Americans would get hit with a penalty that is a 50% jump from the previous estimate Utah senator Mike -- remember this.
Economic committee on this what does this means there.
Well this means what we feared all along what we as Republicans have been predicting all along it's that.
This will hurt people this will hurt middle income murders and it's going to hurt a lot of them.
When the Supreme Court rewrote the law earlier this summer to a pulled it.
It subjected six million Americans of that tax that's a big tax increase it's a tax increase on middle income America what does -- mean about the pledge not to raise taxes moves to make.
More than 250000.
Dollars -- them.
It means that it evaporated into thin air and we've got to do something about it I've introduced legislation.
That would do just that that would.
Make clear that this is an attacks than it would rescind any part of the individual mandate provisions of the Affordable Care Act.
-- do in fact impose -- -- -- Part here is now some of the specifics for our viewers on the screen here.
This is what we're finding out of the moment here that's the average penalty of 12100 dollars per year in the year 2016.
The collection -- that would be about what is it seven V aids.
Seven billion dollars on that and the collection estimate about nine B.
Eight billion dollars basic surgery -- -- felt well premieres are trying to grab the numbers across the screen what does -- say about the financial.
Stability of this law and what what does this mean for us not just in 2016.
But even beyond that.
Well confirms what we've seen over and over again as BC -- reports continue to come out.
Telling us that this -- is going to cost a lot more to implement than we were promised that it would cost.
Because this is major major step and this is a major break in the case confirming what a lot of us have been predicting all along which is that this would become unsustainable.
Be unaffordable and it it would amount.
To a wholesale breach of the promised not to raise taxes on middle at the moment I think people realize this religious start to see it now.
-- just starting to see it now that data continue to trickle in.
And we continue to get more reports from the Congressional Budget Office.
At telling us that this is the case -- that Americans don't want this and they don't need it.
And that's why we continue to push for legislation that would either repeal the Affordable Care Act altogether or at a minimum defund it whereas my bill does pass 3411.
It removes the tax assertion of authority it removes.
Anything that could be read as an exercise of Congress's power -- tax and if you remove that according to the Supreme Court the whole thing crumble.
Well we'll see what comes up from the CBO next because the story's been changing as you well know for some time Mike Lee thank you Republican -- -- you tell will follow your legislation.
And see where it goes thank you sir twelve minutes before the hour.
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