'Here's An Idea: No Tax on Healthcare': Hawley Remarks at HSGAC Hearing

[00:00:00] I'll be brief. I know the panel's been [00:00:01] here for a long time and and I'll give [00:00:03] uh each of you some questions for the [00:00:05] record, but I just want to ask you, Mr. [00:00:07] White, nice to see you again. I think I [00:00:08] saw you recently in another hearing and [00:00:10] you've gotten the question I'm about to [00:00:11] give to the panel. But let me just ask [00:00:13] you this. Here's here's an idea to lower [00:00:15] healthare costs. What do you think about [00:00:17] exempting health care spending, consumer [00:00:20] spending from taxes? What if we just [00:00:22] said no taxes on healthcare spending? [00:00:24] your premiums taxree, your deductible [00:00:28] taxree, your out-of- pocket expenses [00:00:30] taxree, and we already have, as I think [00:00:32] Mr. White pointed out in a hearing [00:00:33] recently, we we have in place uh [00:00:38] something an approximation of this, if [00:00:40] you itemize, as an individual, if you [00:00:42] itemize your taxes and you spend more [00:00:44] than 7.5% [00:00:46] of your adjusted gross income on out-of- [00:00:49] pocket expenses, you can deduct [00:00:50] everything above 7 and a half% if you [00:00:52] itemize. Of course, businesses, big [00:00:55] corporations get to deduct um all of [00:00:58] their spending. So, why not allow [00:00:59] individuals to deduct everything? First [00:01:04] dollar, make it taxfree. [00:01:06] >> What do you think? Let's just go down [00:01:07] the go down the panel and then I'll give [00:01:08] you questions for the record. Go ahead, [00:01:10] Mr. Leman. [00:01:13] >> Do you want to pay less? Do you want to [00:01:14] pay less taxes on your healthcare? [00:01:15] That's a question. I was going to say [00:01:16] yes to that, but maybe maybe somebody [00:01:18] will. Go ahead. I'm afraid I do not have [00:01:20] the expertise to of the tax code in [00:01:22] front of me to give you a really good [00:01:24] idea on that. Thank you. [00:01:25] >> Okay, Mr. Jacobs. [00:01:28] >> Uh I'm I'm going to follow this [00:01:29] gentleman right here. I mean, I don't [00:01:30] I'm just I'm not that guy. I'm not the [00:01:32] guy to ask this question to [00:01:34] >> Mr. Reagden. [00:01:35] >> Senator Holly, I think it's a great idea [00:01:36] because then you're providing fairness [00:01:38] to everyone. Whether I pay out of pocket [00:01:40] or a premium or have some alternative, [00:01:42] you're treating it the same. And [00:01:44] government should be fair. It shouldn't [00:01:45] pick winners and losers. Great idea. [00:01:47] >> Now, Mr. you said actually the other day [00:01:49] and I thought this is a great point. [00:01:50] Taxes make everything more expensive. So [00:01:53] if you want to reduce cost, why not [00:01:56] lower taxes in this case on healthcare [00:01:58] which are, you know, exorbitant. Um but [00:02:00] go ahead. I'll let you fill in or not. [00:02:03] >> My answer hasn't changed. Great idea. We [00:02:05] should do it. [00:02:06] >> Great. Mr. Steel. [00:02:07] >> Senator, I have four kids, so I'm in [00:02:09] favor of lower taxes. [00:02:10] >> Yeah. Very good. Mr. Briggs, uh would [00:02:13] have made a big difference in my life if [00:02:14] that had happened. [00:02:15] >> Yeah. All right. Well, thank you all for [00:02:17] for being here. Thank you for your [00:02:18] testimony and your expertise.