Obama Seeks Union Support for Excise Tax on ‘Cadillac' Health Plans

For over 50 years, Bloomberg Tax’s renowned flagship daily news service, Daily Tax Report® has helped leading practitioners and policymakers stay on the cutting edge of taxation and...

President Obama attempts to persuade union leaders to back the Senate-passed tax on high-end health insurance plans to help pay for health care reform. White House Press Secretary Robert Gibbs says Obama met with labor leaders in an effort to sway their opinion of the tax by agreeing to raise its threshold so workers would not be impacted by the tax. Obama's meeting with union leaders comes as Senate and House Democrats attempt to merge Senate and House health care overhaul bills (H.R. 3950, H.R. 3962). Labor unions oppose the Senate bill's tax on so-called Cadillac plans because workers who accepted broader health coverage instead of wage increases could be affected by the tax.

Request Daily Tax Report