Article Image
News Link • Healthcare

Tax break for employer health plans a target again

• news.yahoo.com/s/ap
 
Employer-provided health insurance is part of a worker's compensation. Unlike wages, it isn't subject to income and payroll taxes. Repealing the tax break would raise several hundred billion dollars a year, depending on how it's done. Many economists believe employers would boost pay if they didn't provide health care. Proponents of repeal usually call for a tax credit to offset part of the cost of individually purchasing coverage. The leaders of Obama's deficit commission — Democrat Erskine Bowles, a former Clinton White House chief of staff, and Alan Simpson, a former GOP senator from Wyoming — have proposed to limit the tax break or eliminate it along with other cherished deductions, such as the one for mortgage interest. That would allow for a big cut in tax rates. The commission is supposed to report its plan on Wednesday. It's unclear if leaders have the votes to back their sweeping changes.

Join us on our Social Networks:

 

Share this page with your friends on your favorite social network:


Stop Wars T-shirt at The Bitcoin Store