Leadership in the House of Representatives is moving forward with its version of a tax bill that calls for enormous tax cuts for the wealthiest Americans and will drive up the deficit to the tune of $1.5 trillion.
Such a deficit will necessarily lead to cuts in programs that low-income older adults need, including Medicaid and Medicare. Justice in Aging created a short Fact Sheet: 4 Ways the Tax Cuts & Jobs Act Threatens Health Care for Older Adults to outline for advocates what’s at stake for older adults with Medicare and Medicaid and how the loss of the medical expense deduction could jeopardize the financial security of older Americans with high out-of-pocket health care costs or long-term care expenses.
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