Wall Street Ponders If Obamacare Axing Helps or Hurts Tax Bill
- BMO is growing “increasingly apprehensive” on bill passage
- Goldman says U.S. based multinationals will be winners
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The Senate’s latest plan to fund one of the largest tax cuts in history has dragged the health-care debate back into the limelight -- and that’s got Wall Street’s attention. Ending the requirement would save the government $338 billion over 10 years, but leave around 13 million Americans uninsured and raise premiums by about 10 percent, the Congressional Budget Office estimated.
Analysts are divided on the chances of passage and the impact across the health-care sector varies. The removal of Obamacare’s individual mandate may increase the chances of tax cuts that could bolster growth, a win for the broader market, while numerous other provisions may hurt select companies.