Kate Davidson

speaker

334 appearances 5 recordings 1 series first heard Dec 2017 last heard Jun 2021

Kate Davidson’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · GOP Tax Plan: Why Cruise Ship Companies Are Winners · 5 Dec 2017 podcast

And the bills, the tax bill,

included a provision that would have, for complicated reasons, essentially raised taxes on cruise ship lines.

And Senator from Alaska said this would disproportionately affect Alaskan communities, especially ones that rely on cruise ship tourism.

So that was their justification for that, that it could hurt the economy there.

So they offered that one and it made it through.

That's right.

Senator Collins, we know, was one of the lawmakers who really used her leverage quite effectively.

And she managed to secure a number of

commitments and changes.

One of the ones that was included in this manager's amendment was a deal to revert the medical expense deduction back to the level that was in place before the Affordable Care Act.

So Obamacare changed the law so that taxpayers could only deduct medical expenses that exceeded 10% of their income.

It used to be 7.5%.

So that is, people with high medical expenses, it was easier for them to, or they could deduct

a greater share of those expenses.

And the law changed that.

So she managed to revert that back to the 7.5% level for two years.

And this was something that earlier she had sought a change in the treatment just for senior citizens.

So in the end, she actually got an even better deal.

But this was something that the AARP had been pushing for in particular because seniors have very high medical expenses.

And this was a big change for them when Obamacare changed the law.

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