Wednesday, July 25, 2012

Obamacare - #4069 - CBO to Employers: Obamacare Has $4B More In Taxes Than Expected - Washington Examiner (2) And So It Begins - 1 in 10 Employers already Saying They'll Drop Health Coverage - Hot Air (3) Nearly 60 Plaintiffs Suing Obama Administration Over HHS Mandate - Hot Air

CBO to Employers: Obamacare has $4B More in Taxes Than Expected - Washington Examiner - Business owners will pay $4 billion more in taxes under President Obama’s Affordable Care Act (ACA) than the Congressional Budget Office had previously expected. “According to the updated estimates, the amount of deficit reduction from penalty payments and other effects on tax revenues under the ACA will be $5 billion more than previously estimated,” the CBO reported today. “That change primarily effects a $4 billion increase in collections from such payments by employers, a $1 billion increase in such payments by individuals, and an increase of less than $500 million in tax revenues stemming from a small reduction in employment-based coverage, which will lead to a larger share of total compensation taking the form of taxable wages and salaries and a smaller share taking the form of nontaxable health benefits.In short, CBO revised the Obamacare tax burden upward by $4 billion for businesses and $1 billion to $1.5 billion for individual workers. CBO couldn’t help but bump into Chief Justice John Roberts controversial decision uphold the individual mandate as a constitutional exercise of Congress’s taxing power. The report dubs the individual mandate a “penalty tax” — that is, “a penalty paid to the Treasury by taxpayers when they file their tax returns and enforced by the Internal Revenue Service.”

And So It Begins.. 1 in 10 Employers Already Saying They'll Drop Health Coverage - Hot Air - The Congressional Budget Office released their post-Supreme Court ruling reassessment of ObamaCare earlier today, and — unexpectedly — the latest numbers are even less attractive than we originally estimated. Who could’ve seen this coming? The nonpartisan Congressional Budget Office on Tuesday said President Obama’s healthcare reform reduces the deficit by $109 billion over ten years. This is a new re-estimate in light of June’s Supreme Court ruling upholding the law and it is a smaller deficit savings than CBO had previously projected. CBO said the ruling added uncertainty to its estimates but it has put forward a number that comes down in the middle of possible outcomes. In March 2011, CBO said that ‘Obamacare’ would reduce the deficit by $210 billion over ten years, despite increasing spending by $1.042 trillion over 10 years.......About one in 10 employers plan to drop health coverage when key provisions of the new health care law kick in less than two years from now, according to a survey to be released Tuesday by the consulting company Deloitte. Nine percent of companies said they expect to stop offering coverage to their workers in the next one to three years, the Wall Street Journal reported. Around 81 percent said they would continue providing benefits and 10 percent said they weren’t sure.  Read more...........

Nearly 60 Plaintiffs Now Suing Obama Administration Over HHS Mandate - Hot Air - The Obama administration is facing growing resistance to its anti-conscience mandate two weeks before the policy goes into effect. Yesterday evangelical Wheaton College announced it was joining a lawsuit against the mandate. Last week another Illinois institution, Catholic Charities of Chicago, sued the administration. The Department of Health and Human Services mandate becomes official on Aug. 1. It requires employers to cover abortion drugs, contraception and sterilization, even if they have religious or moral objections. The administration’s so-called “accommodation” has failed to address the concerns of organizations, prompting the rash of lawsuits attempting to overturn the directive. Wheaton College joined a lawsuit with the Catholic University of America in D.C. District Court on Wednesday. It became the fourth Protestant college to sue the government, joining Colorado Christian University, Geneva College and Louisiana College. There are now more than 20 separate cases and nearly 60 individual plaintiffs, ranging from hospitals and universities to businesses and charities, according to the Becket Fund for Religious Liberty.  Read more.......

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