Rep. Stauber: House Overwhelmingly Votes to Repeal Key Obamacare Provision That Would Devastate Middle Class Families
Targeted News Service (Press Releases)
WASHINGTON, July 8 -- Rep. Pete Stauber, R-Minnesota, issued the following news release:
This week, the House of Representatives with Congressman Pete Stauber's (MN-08) support, overwhelmingly voted to repeal a major provision of Obamacare. H.R. 748, the Middle Class Health Benefits Tax Repeal Act would repeal the Cadillac Tax, a 40 percent penalty on high-value employer sponsored health insurance plans. The legislation passed with a vote of 419-6.
Of the legislation's passage, Stauber said, "Minnesotans need access to affordable and quality healthcare. Unfortunately, in recent years, healthcare has steadily become less affordable and should the Cadillac Tax take effect, this crisis will only worsen.
By implementing a 40 percent tax on certain employer sponsored health insurance plans, the Cadillac Tax would punish middle class families, many of whom already have a hard time making ends meet. When I came to Congress, I promised to address the rising cost of healthcare, so I am proud to help permanently repeal this unfair tax."
The Cadillac Tax was designed to help pay for Obamacare. It would impact health insurance plans that cost more than $11,100 for an individual, and $29,750 for a family.
Implementation of the Cadillac Tax has been delayed numerous times, most recently to 2022.
House Science Subcommittees Issues Testimony From Union of Concerned Scientists
Rubio, Menendez, Colleagues Champion Bipartisan Comprehensive Flood Insurance Reform Bill
Advisor News
- How much could failure to fund Social Security cost average Americans?
- How can more Americans achieve financial independence?
- Savers vs. spenders: How money management attitudes impact financial confidence
- Demonstrating the value of life insurance to Gen Z
- Poor money habits are a dealbreaker in a new relationship
More Advisor NewsAnnuity News
- Canvas steps into the direct-to-consumer market that has yet to take off
- The next growth phase in life/annuities depends on modernization
- CA judge certifies class action in teachers’ lawsuit over in-plan annuity fees
- Globe Life Inc. (NYSE: GL) Records 52-Week High Thursday Morning
- AM Best Managing Director Joins ‘Target Topics’ Podcast to Discuss State of Delegated Underwriting Authority Enterprises Market
More Annuity NewsHealth/Employee Benefits News
- Gov. Stitt names OHCA interim director
- Iowa health insurers propose premium increases for ACA customers
- Atrium pushes back after State Health Plan leaves healthcare network out of Tier 1
- BUILDING A COMPETITIVE BENEFITS PACKAGE IN 7 EASY WAYS
- People with this Medicare plan could soon go out-of-network at UHealth hospitals
More Health/Employee Benefits NewsLife Insurance News
- USAA introduces Secure Start whole life program for children
- Best’s Market Segment Report: AM Best Maintains Stable Outlook on South Korea’s Non-Life Insurance Market
- Horace Mann Strengthens Customer Relationships and Accelerates Long-Term Growth Through Transactions with Medical Mutual of Ohio
- Regulators: ‘No firm conclusions’ from first offshore reinsurance filings
- Allianz Life Study Finds Americans Struggle to Shift From Retirement Saving to Spending
More Life Insurance News