Today, Congress will begin consideration of year-end spending packages providing funding for the government. A handful of tax provisions will be included in the bills. We are pleased to report that a full repeal of the excise tax on high-cost health plans (the “Cadillac Tax”) is one of the provisions in this package. It is anticipated that the spending bills will be approved by Congress and signed by President Trump before the end of this week.
This is great news since this legislation will address one of ECFC’s top legislative priorities – the repeal of the Cadillac Tax. There are two other taxes that were part of the Affordable Care Act (ACA) that are also repealed by this package—the medical device tax and the so-called HIT tax on health insurance premiums.
We will provide more details as the legislation moves through Congress and to the President’s desk.