Congressional tax experts say Senate healthcare legislation would impose $29 billion more in taxes on healthcare industries than originally thought.
Tax panel says Finance Committee plan would hit industries harder than first estimated
The Joint Committee on Taxation says drug companies, medical-device manufacturers and insurers would pay $121 billion over 10 years as a result of taxes in the Senate Finance Committee bill. That's compared with $92 billion originally calculated. The tax experts said the reason for the change is that the companies won't be able to deduct the fees from their corporate income taxes.
The new numbers come as the Finance Committee is preparing to vote on the bill and could bolster GOP arguments that it contains too many new taxes.
What do you think? Post a comment on this article and share your opinion with other readers. Submit your comments to Modern Healthcare Online at [email protected]. Please be sure to include your hometown and state, along with your organization and title.
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.