The Current Tax Reform Bill Will Hurt Seniors and Nonprofit Providers
Congress is considering major tax reform legislation, H.R. 1, that has serious implications for older adults and aging services providers. We, along with LeadingAge (national), have been monitoring both House and Senate versions and due to potentially dangerous provisions in the bill.
The House has already passed a bill that will eliminate the medical tax deduction, eliminate private activity bonds and advance refunding, and end the 4% Low Income Housing Tax Credit Program. More importantly, this bill will have long-term impacts on Medicare and Medicaid resulting from the $1.5 trillion cost of the bill. It is almost certain that these provisions will in fact hurt seniors.
The Senate began debate Nov. 27 in preparation for a vote. Now is the time to act. Let your senators and representative know that the H.R. 1 will hurt the health and wellness of older adults. This legislation is moving fast so please take action today.
How You Can Help
Share this information with the residents in your community and suggest that they call as well. The proposed changes will directly impact them.