Bipartisan bill introduced to repeal Cadillac tax

Rep. Mike Kelly (R-PA) and Rep. Joe Courtney (D-CT) have introduced H.R. 173, the Middle Class Health Benefits Tax Repeal Act of 2017, which would repeal the Patient Protection and Affordable Care Act’s (ACA) excise tax on high cost health plans.

The controversial tax, also known as the Cadillac tax, would impose a 40 percent excise tax on employer-provided health insurance plans valued at more than$10,200 for individual coverage and $27,500 for families. The tax is currently scheduled to take effect in 2020. According to the Kaiser Family Foundation, the tax would impact approximately 42 percent of American employers.

“I am proud to take one of the first steps in repealing and replacing this law in order to save the American people from its harmful consequences,” said Kelly in a statement. “The widespread pain of Obamacare’s higher costs and broken promises is already being felt by countless families and workers, yet with the law’s looming Cadillac Tax, in many ways the worst is yet to come.”

SOURCE: https://www.congress.gov/bill/115th-congress/house-bill/173

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