Focus at Four: GOP tax bill could mean bad news for nursing home residents

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House Republicans have unveiled a broad tax-overhaul plan that would touch virtually all Americans and every corner of the economy.

It would offer sharply lower rates for corporations and reduced personal taxes for many.

But it would give fewer deductions to home-buyers and families with steep medical bills.

A recent report also says the tax bill would wipe out a key medical deduction for many elderly Americans in nursing homes.

The Republican tax bill will leave the nation's biggest health-care tax exemption for employer plans unchanged but would wipe out a key medical deduction for many elderly Americans in nursing homes.

The bill would repeal the medical expense deduction, which allows people who spend more than 10 percent of their income on out-of-pocket health costs to write them off.

Loe Hornbuckle is a senior care expert, and owns several assisted living communities in Dallas.
He joined us on First News at Four to talk about the potential change.

"While the goal of reducing taxes is certainly noble, attempting to pay for a tax cut for the most wealthy earners in the United States by raising taxes on the most vulnerable in our society who are often on a fixed income strikes me as cruel policy and stunningly immoral," says Loe Hornbuckle. "Apparently our thanks to the Greatest Generation for storming the beaches of Normandy is to charge them more for simply needing access to a little help as they age."