Organization lists tax hikes proposed in healthcare reform plan

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Organization lists tax hikes proposed in healthcare reform plan Only two days have passed since the Senate Finance Committee unveiled its healthcare bill proposal, and Americans for Tax Reform (ATF), an organization that opposes all tax increases, has prepared a list of tax hikes that could be enforced if the bill passes.

Because the plan includes a mandate for all Americans to obtain insurance coverage, ATF says workers who do not sign up will have to pay a tax of between $750 and $3,500 depending on their status and income.

In addition, employers will be taxed at the rate of $400 per employee if they do not offer health coverage.

The plan also provides for a 35 percent excise tax on high-cost health insurance plans, meaning those whose premiums exceed $21,000 for families and $8,000 for singles. Moreover, it would eliminate tax breaks such as the deduction for employer-provided retirement prescription drug coverage in coordination with Medicare Part D.

In recent months, ATF has been focusing on exposing President Obama’s apparent failure to keep his campaign promise not to raise any taxes on Americans making less than $250,000 a year.
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Spencer Cameron