U.S. Senate Committee Releases Draft Legislation To Repeal And Replace The 2010 Affordable Care Act
Last Thursday, the U.S. Senate Budget Committee released draft legislation to repeal and replace the Affordable Care Act, which was signed into law by President Barack Obama in 2010. The Budget Committee has posted a section-by-section summary of the draft bill on its website.
Senate leaders will need 51 votes to pass the bill. They are hoping to hold a vote on the legislation by the end of this week. As Connecting the Dots reported, the U.S. House passed its bill to repeal and replace the Affordable Care Act in May. The House and Senate health care reforms differ substantially, so if the Senate manages to pass its version of the legislation this week, representatives from the two chambers will still have to meet to reconcile their differences.
While the Metals Service Center Institute has not endorsed either bill, the organization is pleased that both bills propose to repeal some of the most cumbersome Affordable Care Act taxes and mandates, including the employer mandate, the medical device tax, and the health insurance tax (HIT). The U.S. Chamber of Commerce has referred to the HIT as a “middle class tax” since half of the revenues resulting from the levy will be paid by Americans with incomes between $10,000 and $50,000. The Senate health care bill, like the House version, also would delay implementation of the so-called “Cadillac tax” on high-end employer-sponsored health care plans until 2026.
The Committee for a Responsible Budget provides a side-by-side analysis of the House and Senate Affordable Care Act repeal bills here. The Tax Policy Center, meanwhile, compares the tax side of both health care bills.