Baucus Stands by Tax Penalty to Enforce Individual Insurance Mandate

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Senate Finance Committee Chairman Baucus says he intends to defend the penalty excise tax as Senate leaders work to finalize health care reform legislation that can be brought to the Senate floor. Under the Finance Committee-approved bill (S. 1796), a penalty excise tax on uninsured individuals would phase in gradually, starting at $200 per adult in 2014 and rising to a maximum of $750 per adult in 2017. After 2017, the tax would be indexed to consumer price inflation.