Federal Health Care Reform Inspires Anger, Fear and Praise Amid Conflicting Projections of Its Impact on States' Budgets

The Bloomberg BNA Tax Management Weekly State Tax Report filters through current state developments and analyzes those critical to multistate tax planning.

The federal health care reform package (H.R. 3590) signed by President Obama March 23 and the reconciliation bill (H.R. 4872) now before Congress represent a massive overhaul of the nation's health financing system. In the states, reactions among lawmakers and political leaders have ranged from outrage to elation, with projections of economic consequences equally disparate. In a politically charged atmosphere, some states are projecting massive budget shortfalls as a result of the federal legislation, while others say that the bill represents a revenue boost.

This article is available to subscribers of the Weekly State Tax Report. For more information or to take a trial to the report, click here.