The GOP healthcare bill could slash megadonor Sheldon Adelson's tax bill by more than $40 million

The GOP healthcare bill could slash megadonor Sheldon Adelson's tax bill by more than $40 million
Bob Bryan

Sheldon Adelson, the billionaire casino magnate and Republican megadonor could stand to benefit heavily from the House plan to overhaul America's healthcare system.

A new report from the Center for American Progress Acion Fund, a liberal think tank, and Tax March found that Adelson could see his tax bill slashed by millions of dollars if the American Health Care Act becomes law.

A Business Insider analysis of the report determined that Adelson could see his tax bill decline by about $43.5 million in 2017 if the AHCA is passed and the tax effect is retroactive to the current year.

The primary way Adelson would benefit is the repeal of Obamacare's Net Investment Income Tax, which adds a 3.8% tax to investment income — from dividends and capital gains — for people with over $200,000 in annual earnings (or couples with over $250,000).

http://www.businessinsider.com/sheldon-adelson-ahca-healthcare-tax-cuts-2017-6