Print this Page The Tax Tracker
Supreme Court's Health Law Decision Leaves in Place 21 Tax Hikes Costing Taxpayers More Than $675 Billion
Total Tax Increase Could Exceed $800 Billion When All Provisions Are Re-estimated
Thursday, June 28, 2012
The Supreme Court’s health care ruling leaves in place 21 tax increases enacted as part of that law. A dozen of these, marked with an asterisk (*) below, target Americans earning less than $200,000 per year for singles and $250,000 per year for married couples. This is a clear violation of the President’s pledge to avoid tax hikes on low- and middle-income taxpayers. According to a new estimate from the non-partisan Joint Committee on Taxation (JCT) – which does not include updated scores for the individual mandate, the employer mandate, or certain other revenue effects – the tax increases that remain on the books will cost taxpayers more than $675 billion over the next ten years. Based on the 2010 estimates for the provisions that have not yet been re-estimated – which likely understate their current scores because of the shift in the budget window since the law’s enactment – it is likely that the total gross tax increase from the Democrats’ health law will actually exceed $800 billion over the next decade.
Prepared by Ways and Means Committee Staff – June 28, 2012
###
Share This Page
|