The House of Representatives has overwhelmingly voted to repeal a tax on high-cost health insurance plans under Obamacare known as the “Cadillac tax.”
The 419-6 vote is a signal of bipartisan unity against a key provision of the Affordable Care Act. The 40% tax on high-cost plans is meant to help subsidize other plans under the Affordable Care Act.
Beginning in 2022, the tax would slap a 40% levy on the value of health insurance plans above $11,200 for single coverage and $30,100 for family policies. The idea was to help control costs by putting a brake on the value of health insurance plans.
TCU opposes a tax on health benefits, health insurance is one of the most important issues for our members, union plans are generally a cut above what non-union employers offer.
TCU President Bob Scardelletti said, “The Cadillac Tax was an attack on good union plans. The House has repealed it. Now on to the senate.“
Click here to read a related story on the US News website.