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As part of a Mothers’ Day weekend defense of his signature legislative accomplishment, President Obama claimed that the law represented the “largest health care tax cut for working families and small businesses in our history. “

His argument was a Hail-Mary effort to redesignate subsidies for individuals to purchase health insurance on government-run exchanges as a “tax cut.” But according to the Congressional Budget Office, these subsidies actually qualify as more than $1 trillion in “Exchange Subsidies and Related Spending.” (Emphasis mine.)

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