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Households at the top of the U.S. income ladder would see taxes on their wages and investments drop under the House Republicans’ new health-care proposal. As expected, the bill repeals a 3.8% tax on investment income and a 0.9% tax on wages. Both levies affect only the highest-earning households, those individuals making at least $200,000 and married couples making more than $250,000. (Rubin, 3/7)

Though the legislation is focused on making good on Republican promises to repeal and replace the health program, it would likely also amount to the first big tax cut of the Trump administration, one that comes even before lawmakers tackle tax reform in earnest. The plan should make rewriting the tax code easier by moving the cost of some tax cuts into separate legislation. (Faler, 3/6)

The legislation that House Republicans have unveiled to repeal and replace ObamaCare would eliminate nearly all of the 2010 health law's taxes — with one key exception. The House bill, unveiled Monday evening, would allow ObamaCare's "Cadillac" tax on high-cost health plans to take effect in 2025. The tax, which has been opposed by both Democrats and Republicans, had been slated to take effect in 2020 under current law. (Jagoda, 3/6)

Starting in 2020, Obamacare imposes a 40 percent excise tax on employers’ plans that cost more than $10,200 for individuals and $27,500 for families. The Ways and Means Committee’s proposal would impose the tax but delay it until 2025. The Republican proposal wouldn’t alter current federal tax provisions that exclude the amounts that workers pay for health insurance from federal income and payroll taxes. For decades, lawmakers have flirted with the idea of capping or eliminating that tax break. (Andrews, 3/7)