Worried about complying with the so-called Cadillac tax when it's due to take effect in 2018? You can probably stop planning around it. The big guns now have it in their sights.
|The Senate and House minority leaders are working behind the scenes to orchestrate the repeal of the unpopular excise tax, reports the Washington, D.C.-based news source The Hill. U.S. Sen. Harry Reid (D, Nev.) and U.S. Rep. Nancy Pelosi (D, Calif.), plan to land the coupe de grace on the tax after the first of the year, The Hill reported.
|Labor unions have mounted strong opposition to the tax on "rich" employer health plans because many of their negotiated benefits plans for members would trigger the tax. Republicans also oppose it, but Democrats have taken the lead on the repeal effort.
The Hill reports the two leaders have been in discussions with the White House since spring over ways to repeal the tax and replace the revenue from it, which helps fund the insurance pool that backs Obamacare's coverage for those who could not otherwise afford it. The Hill said there's still no consensus on replacement revenue, but that consensus is definitely there for repealing the tax. BenefitsProComplete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
