Apr 27, 2015 - 1:00pm

Obamacare Tax Repeal Bill Hits Magic Number in House


Senior Editor, Digital Content

bloomberg_us_capitol_dome_night_800px.jpg

U.S. Capitol dome at night.
Photo credit: Andrew Harrer/Bloomberg.

The Health Insurance Tax (HIT), an Obamacare tax hurting small businesses, is a step closer to being repealed. A majority of the House of Representatives supports a bill to end it:

Rep. Charles Boustany Jr. (R-La.) and Kyrsten Sinema (D-Ariz.), who introduced the bill in February, announced Wednesday that they have reached 218 co-sponsors, which they hope will quickly lead to a full House vote.

“I am proud to reach this important milestone and look forward to an expeditious consideration and passage of this important legislation through the House of Representatives,” Boustany wrote in a statement.

The bill has six Democratic co-sponsors: Patrick Murphy (Fla.), Collin Peterson (Minn.), Brad Ashford (Neb.), Julia Brownley (Calif.) and Gwen Graham (Fla.).

The Health Insurance Tax (HIT), which went into effect in 2014, puts a tax on health plans sold on the fully-insured market. Small businesses make up 88% of this market.

The HIT will impose $159 billion in new taxes over the next decade. According to a National Federation of Independent Business study, up to 286,000 jobs could be lost.

The Stop the HIT Coalition sent a letter to Speaker John Boehner (R-Ohio) and Majority Leader Kevin McCarthy (R-Calf.) asking them to schedule a vote on the bill as soon as possible. 

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About the Author

About the Author

Sean Hackbarth
Senior Editor, Digital Content

Sean writes about public policies affecting businesses including energy, health care, and regulations. When not battling those making it harder for free enterprise to succeed, he raves about all things Wisconsin (his home state) and religiously follows the Green Bay Packers.