Billionaire Warren Buffett said on Tuesday that the Senate and House Obamacare repeal bills are tax relief for the rich.
“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,” said Buffett, who has a reported net worth of $76 billion, in an interview with PBS.
“You could entitle this, you know, Relief for the Rich Act or something, because it — I have got friends where it would have saved them as much as — it gets into the $10-million-and-up figure,” he said.
Senate Republican’s bill, the Better Care Reconciliation Act, faces challenges after GOP leaders pulled the bill this week and said they hope to be in a position to pass it by July.
More conservative Republicans are worried that the bill does not repeal enough of Obamacare, while centrists are worried about the Congressional Budget Office’s report that an estimated 22 million more people could be uninsured over a decade.
The House bill, the American Health Care Act, passed by a narrow margin in May. Buffett, the chairman and CEO of Berkshire Hathaway, said the House bill would save him almost $700,000.
“If the bill that passed the House with 217 votes had been in effect this year, I would have saved — I can give you the exact figure. I would have saved $679,999,” Buffett said.
