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01-14-2010, 02:49 PM #1
Deal Reached on Taxing 'Cadillac' Plans
Updated January 14, 2010
Deal Reached on Taxing 'Cadillac' Plans
FOXNews.com
The White House has reached a deal with health care negotiators, including labor unions, on taxing the high-level "Cadillac" plans that high-risk workers often purchase.
The White House has reached a deal with health care negotiators, including labor unions, on taxing the high-level "Cadillac" plans that high-risk workers often purchase.
The excise tax on high-cost insurance plans has been one of the biggest sticking points in the negotiations, as President Obama has favored the Senate plan which calls for the tax, while House Democrats preferred raising taxes on high-income earners.
The deal was not accompanied by an explanation to the revenue estimated to be generated.
A senior Democratic official speaking on background told Fox News that the threshold for exemption would be raised from $23,000 to $24,000 per family but would remain the same at $8,500 for singles with high-value plans. Dental and vision plans would be removed from that calculation, however.
The deal must be vetted with rank-and-file but this would appear to be a major win for Senate Democrats.
A Democratic source with close union contacts said labor leaders are not particularly happy with the tentative deal, but are much less angry than they were at the previous plan.
Fox News' Trish Turner contributed to this report.
http://www.foxnews.com/politics/2010/01 ... lac-plans/NO AMNESTY
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