A nearly $1.4 trillion spending deal poised to pass Congress this week includes the repeal of three taxes intended to fund the ACA's coverage expansion.
The House on Dec. 17 approved the year-end spending deal and sent it to the Senate. The legislation is considered a win for health insurance companies and medical device makers because it would repeal the ACA's health insurer tax and medical device tax, according to The Hill.
The spending deal would also repeal the Cadillac tax, a 40 percent excise tax on high-cost employer-provided insurance plans that has drawn bipartisan opposition.
The repeal of the three ACA taxes will deprive the government of $373.3 billion over 10 years, according to The Hill, which cited an analysis released Dec. 17 by Congress's Joint Committee on Taxation. The committee estimated the repeal of the Cadillac tax, medical device tax and health insurer tax would cost $197 billion, $25.5 billion and $150.8 billion, respectively, over a decade.
The spending deal, which the Senate is expected to take action on ahead of the Dec. 20 government shutdown deadline, would also delay payment cuts to disproportionate share hospitals and fund gun violence research.
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