California Considers Doubling its Taxes
Practically doubling state taxes—even if the burden is partially offset through state-provided health coverage—could send taxpayers racing for the exits.
6 min read
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Paying for Reconciliation Bill with “Health Care Savings” Threatens Medical Innovation
One of the ways lawmakers intend to pay for $3.5 trillion of new spending in the budget reconciliation package is by creating “health care savings.” The leading proposal to achieve this is H.R. 3, the Elijah Cummings Lower Drug Costs Now Act, which would change the way that prescription drug prices are negotiated under Medicare Part D.
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Households Earning $75,000 or Less Paid Majority of Individual Mandate Penalties
Last month, the Supreme Court turned back a challenge to the Affordable Care Act (ACA), allowing to stand the Individual Mandate it created that penalizes taxpayers for not having proper health insurance and opening the way for President Biden and Congress to reimplement it.
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No ‘Stealth Tax Hike’ in 2021, but Individual and Business Tax Increases Loom
While there are many tax changes built into the tax code over the coming years for individuals and businesses, the recent claim that lower- and middle-income Americans may see a “stealth tax increase” in 2021 due to the Tax Cuts and Jobs Act (TCJA) is untrue.
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Lawmakers Agree to Let Extenders Live On
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The “Cadillac” Tax and the Income Tax Exclusion for Employer-Sponsored Insurance
The Cadillac tax offers one way that policymakers can work to rein in our tax code’s subsidization of the health-care industry, which has increased the price of health-care services.
18 min read
Who Wants a Tax Increase?
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Updated Proposal for Year-End Tax Bill
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Other Federal Tax Changes in the New Year
Though the focus has been on the Tax Cuts and Jobs Act, there are other federal changes that took place on January 1, 2018 which are also worth reviewing.
3 min read