Internal Revenue Service (IRS)

The case against tax deductions

Note: Data includes the first 30 weeks of each year; Data: Internal Revenue Service; Chart: Chris Canipe/Axios

Trump's tax cuts were, weirdly, feared by homeowners and charities. Normally, tax cuts make people richer, and richer people spend more money on housing and charity.

But, but, but: Both those items have historically benefited from massive tax expenditures, leading to worries that they would be worse off after the tax cuts.

Return of ACA insurer tax will bring in $15.5 billion

A monthly statement showing premiums for Anthem Blue Cross Blue Shield.
Insurers pass on the ACA tax in premiums. Photo: Helen H. Richardson/The Denver Post via Getty Images

Health insurance companies will have to pay $15.5 billion next year if the Affordable Care Act's tax on insurers resumes as planned, the IRS said in a notice on Tuesday.

The big picture: Insurers hate the tax because it eats into profits, and companies pass along the costs to consumers through higher premiums. The industry has a few months left to persuade lawmakers to delay or kill the tax.