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| Politics Forum Index » Socialism Politics (Trotsky) Forum » 17 Tax Increases in Senate Health Care Bill = $370.2... |
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| Vngelis... |
 Posted: Thu Nov 19, 2009 2:33 pm |
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November 19, 2009
17 Tax Increases in Senate Health Care Bill = $370.2 Billion
The Joint Committee on Taxation has published a list of the 17 tax
increases in the Senate health care bill, which are estimated to raise
$370.2 billion in revenues over ten years:
40% excise tax on health coverage in excess of $8,500/$23,000 ($149.1
billion)
Employer W-2 reporting of value of health (negligible revenue effect)
Conform definition of medical expenses ($5.0 billion)
Increase penalty for nonqualified health savings account distributions
to 20% ($1.3 billion)
Limit health flexible spending arrangements in cafeteria plans to
$2,500 ($14.6 billion)
Require information reporting on payments to corporations ($17.1
billion)
Additional requirements for section 501(c)(3) hospitals (negligible
revenue effects)
Impose annual fee on manufacturers & importers of branded drugs ($22.2
billion)
Impose annual fee on manufacturers & importers of medical devices
($19.3 billion)
Impose annual fee on health insurance providers ($60.4 billion)
Study and report of effect on veterans health care (no revenue
effect)
Eliminate deduction for expenses allocable to Medicare Part D subsidy
($5.4 billion)
Raise 7.5% AGI floor on medical expenses deduction to 10% ($15.2
billion)
$500,000 deduction limitation on taxable year remuneration to health
insurance officials ($0.6 billion)
Additional 0.5% hospital insurance tax on wages > $200,000 ($250,000
joint) ($53.8 billion)
Modification of section 833 treatment of certain health organizations
($0.4 billion)
Impose 5% excise tax on cosmetic surgery ($5.8 billion)
Update: See CCH's Special Report. |
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