boutons_deux
09-15-2010, 06:32 AM
September 14, 2010, 12:28 pm
Promoting the Health Care Law as a Tax Cut
By REED ABELSON
If the new health care legislation remains intact, it could offer real money for a lot of Americans. Or so says a Families USA report released on Tuesday that estimates that nearly 29 million people will be eligible for tax credits under the law if they are buying private health insurance beginning in 2014.
The report, based on an analysis by the Lewin Group for Families USA, a consumer advocacy group that has been a strong proponent of the health care legislation, calculates that the credits could reduce family income taxes more than $110 billion in 2014 alone.
The credits are “a huge tax cut,” said Ron Pollack, the executive director of Families USA, in a conference call to discuss the report’s findings. “This is one of the largest middle-income tax cuts in history,” he said.
Of course, the Families USA report comes when growing attention is focused on the midterm elections, as some Republicans are not only angling to repeal all or part of the new health care law but also feuding with Democrats over whether the huge Bush-era tax cuts should be renewed. Promoting these tax credits under the health care law is also occurring alongside the Democratic administration’s efforts to highlight the legislation’s benefits for middle-income families. And some Democratic lawmakers have already seized on the report as evidence of how the new law will aid their constituents across the country.
Many of the individuals eligible for the tax credit in 2014 may already have insurance, and more than half are likely to be working for small businesses, the report says. The credits are designed to take some of the financial burden off a family that would otherwise struggle to afford the cost of premiums. A family of four with an annual income of $60,000, for example, would be able to get tax relief of around $10,000 toward the purchase of a policy costing $15,000.
Families of four making up to $88,200, in current dollars, are eligible for the premium tax credits, according to the report.
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"Cram down" that in you lying right-wingers' throats.
Promoting the Health Care Law as a Tax Cut
By REED ABELSON
If the new health care legislation remains intact, it could offer real money for a lot of Americans. Or so says a Families USA report released on Tuesday that estimates that nearly 29 million people will be eligible for tax credits under the law if they are buying private health insurance beginning in 2014.
The report, based on an analysis by the Lewin Group for Families USA, a consumer advocacy group that has been a strong proponent of the health care legislation, calculates that the credits could reduce family income taxes more than $110 billion in 2014 alone.
The credits are “a huge tax cut,” said Ron Pollack, the executive director of Families USA, in a conference call to discuss the report’s findings. “This is one of the largest middle-income tax cuts in history,” he said.
Of course, the Families USA report comes when growing attention is focused on the midterm elections, as some Republicans are not only angling to repeal all or part of the new health care law but also feuding with Democrats over whether the huge Bush-era tax cuts should be renewed. Promoting these tax credits under the health care law is also occurring alongside the Democratic administration’s efforts to highlight the legislation’s benefits for middle-income families. And some Democratic lawmakers have already seized on the report as evidence of how the new law will aid their constituents across the country.
Many of the individuals eligible for the tax credit in 2014 may already have insurance, and more than half are likely to be working for small businesses, the report says. The credits are designed to take some of the financial burden off a family that would otherwise struggle to afford the cost of premiums. A family of four with an annual income of $60,000, for example, would be able to get tax relief of around $10,000 toward the purchase of a policy costing $15,000.
Families of four making up to $88,200, in current dollars, are eligible for the premium tax credits, according to the report.
==========
"Cram down" that in you lying right-wingers' throats.