Obama’s Jobs Bill Pay-For: Taxing Health Benefits Of The Wealthy
The Obama administration request for a tax on top earners' health insurance benefits is stirring Democratic opposition.
The Hill: Obama Jobs Bill Would Raise Revenue By Taxing Benefits For Wealthy
A little-noticed provision in President Obama's new jobs bill seeks to tax health care benefits for the wealthy, a controversial idea that went nowhere during the health care reform debate. The administration failed to convince the Democratic-controlled Congress last year to endorse limiting itemized deductions to 28 percent for individuals making more than $200,000 a year. Now, with the House in GOP hands, the Obama White House is trying again. … Taxing employer-sponsored health care benefits has long been a priority for liberals because the exemption is the nation's costliest subsidy (Pecquet, 9/13).
Bloomberg: Obama Plan To Tax Health Benefits Stirs Democratic Opposition
President Barack Obama is asking lawmakers to tax the health insurance benefits of top earners, stirring opposition from congressional Democrats who fought a similar proposal in the 2010 health care law. The proposal, tucked deep inside the 155-page jobs legislation Obama submitted to Congress on Sept. 12, would make plans provided by employers partially taxable for couples earning more than $250,000 a year and individuals earning more than $200,000 (Sloan and Hunter, 9/14).