Swordsmyth
07-17-2019, 11:48 PM
The House voted overwhelmingly to repeal a tax Wednesday intended to fund the Affordable Care Act, preserving tax breaks for employer-sponsored insurance plans favored by large corporations.
The bill to repeal the levy commonly known as the “Cadillac tax” passed 419-6 with bipartisan support. The 40% excise tax on the most generous and expensive employer health-insurance plans was included in Obamacare as a measure that economists said would help curb health costs.
Congress kept delaying its implementation so the tax has never actually been collected. Had it gone into effect, it would have hit about one in five employers that offer health benefits to their workers, according to estimates from the Kaiser Family Foundation.
The vote to repeal the tax highlights the conflicting forces pulling at Democrats when campaigning versus legislating.
More at: https://news.yahoo.com/democrats-spotlight-health-care-tensions-080000618.html
The bill to repeal the levy commonly known as the “Cadillac tax” passed 419-6 with bipartisan support. The 40% excise tax on the most generous and expensive employer health-insurance plans was included in Obamacare as a measure that economists said would help curb health costs.
Congress kept delaying its implementation so the tax has never actually been collected. Had it gone into effect, it would have hit about one in five employers that offer health benefits to their workers, according to estimates from the Kaiser Family Foundation.
The vote to repeal the tax highlights the conflicting forces pulling at Democrats when campaigning versus legislating.
More at: https://news.yahoo.com/democrats-spotlight-health-care-tensions-080000618.html