"This is something I'm very proud of. Great for our country, great for the American people. Thank you all," said President Donald Trump as he signed the new Tax Bill, which is his biggest legislative victory to date.
Earlier this week, President Trump spoke about a piece of the tax bill that deals with healthcare.
"So, in this bill not only do we have massive tax cuts, and tax reform, we have essentially repealed Obamacare... but, Obamacare has been repealed in this bill."
President Trump also went on to mention the repeal of Obamacare a few more times in his press conference.
But that isn't actually the case.
Trump is referring to a portion of the new Tax Bill, which essentially kills the "individual mandate," which gets rid of the penalty a person would face if they do not have health care.
In that aspect, this is a big change, but it is far from the repeal of the Affordable Care Act.
Local insurance agent Michael Hughes, with The Dott Insurance Agency says while Obamacare is still around, this could definitely be a big blow to the Affordable Care Act.
"I would assume that it would be. But, carriers were drawing out already because they weren't going to participate. So, it was in the stages of collapsing on its own even before this," said Hughes.
Here's one interesting tidbit.
Even though there was no advertising, and the sign-up period was cut in half, experts say nearly as many people signed up for the affordable care act this year as they did last year.
Here are a few other *key aspects* of the tax bill.
It lowers individual taxes, and sets new tax rates.
It increases the standard deduction, expands the child tax credit, and maintains the earned income tax credit.
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