Warren Buffett calls ObamaCare repeal bill ‘Relief for the Rich Act’

Warren Buffett calls ObamaCare repeal bill ‘Relief for the Rich Act’
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Warren Buffett is attacking the Republican Party's plans to repeal and replace ObamaCare, claiming bills in the House and Senate would provide tax cuts for the rich.

Legislation passed by the House, he said, should be called "Relief for the Rich Act."

Buffett, one of the wealthiest men in the country, claimed his tax bill would have been reduced by $679,999, or 17 percent, from the House bill.


"There’s nothing ambiguous about that. I will be given a 17 percent tax cut. And the people it’s directed at are couples with $250,000 or more of income. You could entitle this, you know, Relief for the Rich Act or something," he said in an interview with PBS.

Buffett made the comments are a question about the GOP plan to do away with an ObamaCare surcharge on people earning a higher income.

Buffett also suggested that the bill would give many lawmakers a tax cut.

The annual salaries for lawmakers are much lower, he noted, at around $174,000 a year.

"But most of them have — if you look at the disclosures, they have substantial other income," he said.

"If they get to higher than $250,000, as a married couple, or $200,000 as a single person, they have given themselves a big, big tax cut, if they — if they voted for this."

The Senate on Tuesday decided to delay action on their draft healthcare bill until after the July 4 recess following criticism from conservatives and centrists in the conference.