House Democratss, GOP unite to repeal Obama health care tax

Cadillac Tax

Cadillac Tax

We've got to pass the bill to find out what's in the bill...'

The Obama White House and its economists prized the Cadillac tax on the cost of health coverage above $10,200 for an individual and roughly $30,000 for family coverage, saying the high-value plans end up paying for more care than needed, driving up health costs for everyone. "The difference now is that Democrats want to repeal Obamacare and replace it with socialized medicine". "We hope Congress will repeal the device tax without delay".

The U.S. House of Representatives voted on July 17 to abolish the so-called "Cadillac tax" on employer-sponsored high-value health plans, set to take effect in 2022. However, it remains unclear when the Senate may bring the bill up for a vote. "We urge the Senate to voice its own overwhelming support for this legislation and send it to the president for his signature".

Voter Support. In a prominent new poll, 86 percent of voters believe employer-provided health care coverage should remain tax-free and - by a 4 to 1 ratio - voters are more likely to support a member of Congress that has voted to repeal the "Cadillac Tax". If implemented, the "Cadillac Tax" would impose a 40 percent tax on certain employer-sponsored health care plans. "It would add costs for both employers and employees".

"We are reentering an era of trillion-dollar deficits, and Congress is considering yet another massive tax cut - it appears there is no end to this madness", said CRFB President Maya MacGuineas.

Some health economists warned that repealing the tax would remove one of Obamacare's main tools for lowering health care spending. Politicians don't like the tax on health benefits, but almost every economist thinks the Cadillac tax or a similar measure is necessary to help slow the rise in health care costs and curb overuse of health services, he added.

Residential real estate drops 36%
Chinese economic growth also slowed to 6.3% in 2019 compared with 6.9% in 2017, helping to precipitate the constriction of cash. The data include foreigners who reside outside the United States and those who are recent immigrants or temporary visa holders.

"This is a tax on plans and the people in them, but it doesn't do anything to reduce health care costs and much of the health care cost increases", he said.

A House Democratic aide said Wednesday's vote didn't necessarily tee up future votes to roll back the health law's taxes - but lobbyists for the medical device industry said the vote on the Cadillac tax, which is more expensive than rolling back the device tax, shows lawmakers' openness to repeal votes.

"Passage of this bill will lift the shadow that overhangs employer-sponsored plans and stop the high-deductible problem from worsening", said Rep. Joe Courtney, Connecticut Democrat and the bill's sponsor.

The Alliance to Fight the 40|Don't Tax My Health Care is a broad-based coalition comprised of businesses, patient advocates, employer organizations, unions, local governments, health care companies, consumer groups and other stakeholders that support employer-provided health coverage.

As now projected: If the average plan cost to cover employees and dependents is more than $11,200 for individual coverage and $30,150 for family coverage, employers would pay the tax on plan costs for each covered person above these threshold amounts.

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