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Health Care Taxes for those Making Less than $250,000

Editor’s note: Putting the political motivations aside, clear evidence that the health care overhaul will have a significant tax / cost consequence on those earning less than $250,000 per year.

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Panel Rejects GOP Amendment To Eliminate New Taxes On Those Making Under $250,000. Bloomberg News (10/2, Donmoyer, Rowley) reports, “The Senate Finance Committee narrowly defeated a Republican attempt to exempt most Americans from tax increases to pay for the US health-care overhaul, underscoring the friction over how to fund the legislation.” By a 12 to 11 margin, the committee voted “to reject what…Baucus warned was a ‘killer amendment’ by Idaho Republican Mike Crapo to shield households earning less than $250,000 annually from at least three levies contained in the bill, including a penalty for people who fail to obtain insurance.” As was the case with the Cantwell measure, Lincoln again sided with Republicans on the amendment, which “may aid Republican efforts to portray the legislation…as a tax burden for Americans.”

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October 2, 2009 - Posted by | Federal Government, healthcare | , ,

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