{"id":1703,"date":"2009-10-29T13:42:43","date_gmt":"2009-10-29T17:42:43","guid":{"rendered":"http:\/\/cfif.org\/v\/freedom_line_blog\/?p=1703"},"modified":"2009-10-29T13:42:43","modified_gmt":"2009-10-29T17:42:43","slug":"revenue-provisions-in-health-care-bill","status":"publish","type":"post","link":"https:\/\/cfif.org\/v\/freedom_line_blog\/1703\/revenue-provisions-in-health-care-bill\/","title":{"rendered":"Revenue Provisions in Health Care Bill"},"content":{"rendered":"<p>The Ways and Means Committee just sent out a summary of all the \u201crevenue enhancements\u201d (err \u2026 tax hikes) in the new Pelosi health care bill.<\/p>\n<p>However, these revenue enhancements add up to only ~$565.5 billion, which falls far short of the bill\u2019s $800-$900 billion price tag.\u00a0 The list of \u201cspending cuts\u201d has not yet been released.<\/p>\n<p>Here are some highlights from the summary:<\/p>\n<ul>\n<li>A $5 billion tax hike achieved through narrowing the definition of a qualified medical deduction.\u00a0\u00a0 Currently, individuals with medical expenses exceeding 7.5% of adjusted gross income can deduct those expenses for tax purposes, but the House bill severely limits this medical deduction, forcing taxpayers to pay more in out-of-pocket medical expenses.<\/li>\n<\/ul>\n<ul>\n<li>A $13.3 billion tax increase achieved through limiting Flexible Spending Accounts (FSA).\u00a0 Under current law, individuals may contribute money to tax-free FSA\u2019s, but the new bill limits this amount, thereby taxing income used for medical expenses.<\/li>\n<\/ul>\n<ul>\n<li>$460 <span style=\"text-decoration: underline;\">billion<\/span> tax hike on \u201chigh-earners.\u201d<\/li>\n<\/ul>\n<ul>\n<li>$20 billion tax on the sale or lease of medical devices \u2026 because taxing artificial limbs and pacemakers is the \u201cAmerican Way.\u201d<\/li>\n<\/ul>\n<p><a href=\"http:\/\/waysandmeans.house.gov\/media\/pdf\/111\/10-29SummaryRevenueProvisions.pdf\" target=\"_blank\"><span style=\"text-decoration: underline;\">Click here<\/span><\/a> for the Ways and Means summary.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Ways and Means Committee just sent out a summary of all the \u201crevenue enhancements\u201d (err \u2026 tax hikes) in the new Pelosi health care bill. However, these revenue enhancements add up to only ~$565.5 billion, which falls far short of the bill\u2019s $800-$900 billion price tag.\u00a0 The list of \u201cspending cuts\u201d has not yet [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[12,105,401],"class_list":["post-1703","post","type-post","status-publish","format-standard","hentry","category-posts","tag-health-care","tag-tax","tag-ways-and-means-committee"],"_links":{"self":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/1703","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/comments?post=1703"}],"version-history":[{"count":1,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/1703\/revisions"}],"predecessor-version":[{"id":1704,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/1703\/revisions\/1704"}],"wp:attachment":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/media?parent=1703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/categories?post=1703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/tags?post=1703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}