Leading Effort to Repeal Long-Term Care Tax, Rep. Abbarno Invites Legislative Democrats to Join [The Chronicle, Centralia, Wash.]
Chronicle, The (Centralia, WA)
Dec. 3—State Rep. Peter Abbarno, R-Centralia, has authored legislation to repeal the state's new long-term care insurance tax program, set to begin next year, and he's calling on state House and Senate Democrats to join him in his effort.
"House Republican Health Care Leader Joe Schmick and I have been at the table for months, along with our other Republican colleagues, thoroughly examining this issue and the 2020 Long-Term Services and Supports Trust Actuarial Study," Abbarno said in a Friday news statement.
"We have come to the conclusion the only real solution is to fully repeal the long-term care insurance program and the tax. Surprisingly, we've heard nothing until now from our Democratic counterparts in the House and Senate, even though the Senate Democrats' letter acknowledges they have 'heard loud and clear' from their constituents about the unfairness of this program," he continued.
Abbarno said the only way the new bill could be fixed is to enact a "full repeal as quickly as possible."
"After that, we can go back to the drawing board and spend the next year engaging private industry and working families across the state in a robust, deliberative discussion to determine if a similar program is even needed. I invite Democrats from both chambers and the governor to join with us in a unified, bipartisan effort to rescind this defective long-term care insurance program and its regressive payroll tax, and work on real solutions," he said.
___
(c)2021 The Chronicle (Centralia, Wash.)
Visit The Chronicle (Centralia, Wash.) at www.chronline.com
American Academy of Actuaries: Life Underwriting and Risk Classification Work Group's Comments on Accelerated Underwriting
Federal Contracts Awarded by Federal Agencies in Georgia (Dec. 4)
Advisor News
- Wealth planning vs. estate planning: Honoring your client’s wishes
- What to discuss during the first retirement planning meeting
- Inflation, competing priorities and uncertainty erode retirement security
- As health premiums rise, 1 in 8 workers cut retirement savings
- CT governor’s candidates claims: What’s true, and what’s misleading
More Advisor NewsAnnuity News
- National Life Group expands annuity portfolio
- AM Best to Join Life/Annuity Insurance-Focused Panel Discussion at Capitol Forum Event
- USAA Earns No. 1 Ranking in JD Power Individual Annuity Study for the Third Consecutive Year
- How flexible annuities fit today’s retirement portfolios
- Foresters Financial appoints Tom Ross as chief distribution officer for U.S. annuity sales
More Annuity NewsHealth/Employee Benefits News
- Pennsylvania Health Plans Must Cover Colon Cancer Screening at 45
- In Miami-Dade court, health insurer fights an order to cover $48,500 cancer drug
- Fed judge blocks Medicaid work requirement rule
- Health insurers leave millions unpaid for mental health crisis care in California
- Commissioner places Mending Health in conservatorship
More Health/Employee Benefits NewsLife Insurance News
- AM Best Affirms Credit Ratings of Insignia Life S.A. de C.V.
- FINANCIAL FRAUD
- Security Benefit Announces Planned Dividend Rate Reset for Series B Preferred Stock
- Palmetto Heritage and Atlantic Coast Life Announce Discussions Regarding Potential Acquisition
- Jury finds insurance company acted in bad faith, awards Nebraska woman $11.3M
More Life Insurance News