55 Dems Voted To Increase Taxes On 14.7 Million People With Incomes Less Than $200,000

Risch Amendment: Lower Itemized Deduction Threshold
Senator Risch has offered an amendment (#3645 – link) to repeal the increased limitation on itemized deduction for medical expenses included in the health care bill.

Summary:

  • Current law allows Americans to take an itemized deduction for medical expenses that exceed 7.5 percent of adjusted gross income (AGI) until the end of 2010. A provision of the Senate health care bill that is now law increased that limitation starting in 2011, raising it from 7.5 percent of AGI to 10 percent.
  • This provision raised $15.2 billion to help pay for health care reform.
  • The Risch amendment would return the limitation back to 7.5 percent by repealing Section 9013 of the Patient Protection and Affordable Care act (the Senate health care bill).
  • This is paid for by lowering the income threshold for health expenditures that determines the exception from the individual mandate from 8 percent to 5 percent.
Background:
  • The itemized deduction for medical care is a broadly taken deduction that benefits millions of Americans making less than $200,000 or $250,000; President Obama make a “solemn pledge” that he would not raise taxes on this group.
  • By limiting this deduction and raising the level of necessary medical expenses needed before the deduction could be taken, President Obama and Congressional Democrats are raising taxes on all Americans who take advantage of this deduction.
  • According to materials provided by the amendment sponsor, data from the Joint Committee on Taxation shows that 14.8 million taxpayers will be affected by this tax increase, and 14.7 million of them have incomes less than $200,000.
  • Lowering this threshold back will be a tax cut on millions of Americans who will have more affordable access to medical needs, and help them afford the unsustainable cost increases that will result from the Democrats’ health care reform.

 

SEN. MAX BAUCUS (D-MT): “One Other Point That I Think It’s Very Important To Make Is That It Is True That In Certain Cases, The Taxes Will Go Up For Some Americans Who Might Be Making Less Than $200,000.” (Sen. Baucus, Floor Remarks, 3/23/10)

SEN. MARY LANDRIEU (D-LA): “Yes, We’ve Had To Raise Some Taxes And Fees To Pay For This Bill.” (CSPAN’s Washington Journal, 12/22/09)

MORE THAN $200 BILLION IN TAXES ON INDIVIDUALS AND SMALL BUSINESSES

MORE THAN $50 BILLION IN TAXES ON EMPLOYERS

MORE THAN $30 BILLION IN TAXES ON PRIVATE HEALTH INSURANCE PLANS

NEARLY $20 BILLION IN TAXES ON UNINSURED AMERICANS

$20 BILLION IN TAXES ON MEDICAL DEVICE MANUFACTURERS

MUCH MORE….

 

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4 Responses to “55 Dems Voted To Increase Taxes On 14.7 Million People With Incomes Less Than $200,000”

  1. xxThePhilxx Says:

    Typical Obama, and the sad part is this will go largely unnoticed thanks to the big health care bill passing news.

  2. ohiobelle Says:

    xxThePhilxx, I couldn’t agree with you more. Maybe if they had slowed down then we could’ve fixed these problems before it was too late. They knew this was in there.

  3. ohiobelle Says:

    Harry Reid said this early this morning…

    SUMMARY “My focus is on this legislation and I know that there’s other things that we have to deal with before we leave here. But I’m not concerned about those at this stage. I want to finish this legislation. And I want to do that as quickly as we can. And so I would ask that we just proceed. I hope that there aren’t that many more amendments, but we’re here for the duration. I would note that — and I certainly in no way am trying to denigrate those amendments that have been offered but, you know, we have to understand, not a single one of them’s been adopted. And I don’t know what we’re trying to accomplish here…So let’s continue forward in the same spirit that we’ve gotten this far, but I would hope that my friends understand that it would be to the benefit I think of most everyone if we could get out of here at a decent hour today. If it’s not, if we’re going to keep going, that’s the way it is is.”

    Why wouldn’t the Dems consider any of the amendments?? In my opinion, it was the Dems wasting time. They are still trying to rush this through without listening to ‘We The People’!

  4. AFVET Says:

    They always new it was in there.
    They have blindsided the American People and will continue to do so for the rest of their tenure.
    August recess,…they start campaigning for re-election. Decimate them.
    Until then they are going to ram more socialistic bills down our throats, and it has to be fast, because they are losing their grip.
    Easter recess, you will hear of attacks against the poor democrats that passed this monstrosity of a bill.

    Are you fooled ?

    Conservatives are not radicals, we rely on our intelligence.

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