Obama Aims for More Targeted Cadillac Tax in Budget Proposal

  • White House wants to preserve unpopular Obamacare tax
  • Revised tax would account for regional cost differences

President Barack Obama holds a press conference following the G20 summit in Antalya on Nov. 16, 2015.

Photographer: SAUL LOEB/AFP/Getty Images

President Barack Obama will propose reducing the bite of the unpopular "Cadillac tax" on high-cost health insurance plans in the budget he releases next week, in a bid to preserve a key element of the Affordable Care Act.

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