(Bloomberg) — Republicans are considering capping the U.S.’s tax break on job-provided health insurance, a major change to the tax system that could be used to finance their efforts to repeal and replace Obamacare.
The proposal, still under development, would limit the amount U.S. employers can exclude from workers’ taxes for the health benefits they provide, meaning Americans’ taxes would go up. Excluding premiums from taxes was worth about $250 billion in forgone tax revenue in 2013, according to the Congressional Budget Office. Some health economists have argued that the exemption artificially drives up health spending.
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