Republican Sen. Cassidy Joins Finance Committee

For over 50 years, Bloomberg Tax’s renowned flagship daily news service, Daily Tax Report® has helped leading practitioners and policymakers stay on the cutting edge of taxation and...

By Laura Davison

Sen. Bill Cassidy (R-La.) will join the Finance Committee, filling the spot vacated by retiring Sen. Dan Coats (R-Ind.).

Cassidy, a doctor who was elected in 2014, is a vocal critic of the Affordable Care Act. He has also supported tax breaks for families who send their children to private schools.

“This election, American voters again sent a message that they want Obamacare repealed and replaced with something that works for them,” Cassidy said in a Jan. 3 statement.

He joins the committee as it is gearing up to repeal the ACA and pass legislation to overhaul the tax code. Cassidy wants to work on a plan to replace the health care law, John Cummins, a spokesman for the senator, told Bloomberg BNA.

Cassidy introduced the World’s Greatest Healthcare Plan Act of 2016 (S. 2985), which would make the ACA optional by allowing people to leave the health care exchanges and instead receive a $2,500 tax credit to purchase health insurance on the private market or put in a health-savings account.

In addition to Finance, Cassidy will retain his seats on the Health, Education, Labor and Pensions Committee; Energy and Natural Resources Committee; Veterans Affairs Committee; and Joint Economic Committee.

“The addition of Senator Cassidy strengthens the Republican side of this committee and I am confident that we’ll be able to continue our record of bipartisanship with our colleagues on the other side of the aisle to help meet the demands before us and produce real results for the American people,” Finance Committee Chairman Orrin G. Hatch (R-Utah) said in a statement.

Sen. Claire McCaskill (D-Mo.) is the other incoming member of the Finance Committee. Her addition to the committee was previously announced.

To contact the reporter on this story: Laura Davison in Washington at lDavison@bna.com

To contact the editor responsible for this story: Meg Shreve at mshreve@bna.com

Copyright © 2017 The Bureau of National Affairs, Inc. All Rights Reserved.

Request Daily Tax Report