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October 12, 2005
Proposal to Cap Health Insurance Tax Deductions
President Bush's Federal Tax Commission yesterday unveiled their recommendations that include an $11,000 cap on employer-sponsored health insurnace tax incentives.
Currently, there is no limit on the amount of tax deduction a buisness can take on health-insurance for their employees. According to the OMB, that amounted to $112 billion in lost-revenue for the federal government in 2005 alone.
Posted by WorkerBee at October 12, 2005 12:50 PM