The House Ways and Means Committee approved legislation that would repeal the taxes enacted to fund the Affordable Care Act, and defer for five years the “Cadillac tax” on expensive health insurance policies. It also approved eliminating the penalty tax for not having health insurance, adopting a new refundable credit to help Americans pay for health insurance, and making revisions in tax law relating to health savings accounts and flexible savings accounts, including changes that adversely affect the treatment of health insurance plans that pay for abortions.
Our in-depth discussion of the proposed legislation may be found here.