Bipartisan Senators Raise Pressure on Obamacare Cadillac Tax
Pedro Rojas holds a sign directing people to an insurance company where they can sign up for the Affordable Care Act, also known as Obamacare, before the February 15th deadline on February 5, 2015 in Miami, Florida.
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A new bipartisan effort to cancel Obamacare’s so-called Cadillac tax, the 40 percent levy on high-cost health insurance plans, adds a wrinkle to an impending fight in Congress.
The repeal bill unveiled Thursday in the U.S. Senate by Nevada Republican Dean Heller and New Mexico Democrat Martin Heinrich stands little chance of becoming law soon, especially with Barack Obama in the White House. Yet it demonstrates lawmakers’ frustration with the tax, which takes effect in 2018.