According to a report in The Hill, President Obama would "strongly oppose" any effort to repeal the Affordable Care Act's "Cadillac tax" on pricey health plans. In a briefing on December 9, White House spokesman Josh Earnest declined to confirm that this meant a veto.
As most recently discussed here, Congressional efforts to repeal or delay the implementation of the Cadillac tax have picked up steam in recent months. The tax, scheduled to go into effect in 2018, would be a 40% excise tax on the amount by which annual benefit values in employer-sponsored plans exceed $10,200 for individuals and $27,500 for families. The thresholds would increase annually with the Consumer Price Index.
According to the Congressional Budget Office, a complete repeal of the tax would result in a $91 billion loss in federal revenue over 10 years. The tax's bipartisan opponents, including Democratic presidential candidates Hillary Clinton and Bernie Sanders as well as most lawmakers of both parties, have not yet proposed a way to replace that revenue, which was expected to fund other provisions of the ACA.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
