- The Foundry: Conservative Policy News from The Heritage Foundation - http://blog.heritage.org -

Reconciliation Bill Adds Even More Taxes

Posted By Rob Bluey On March 24, 2010 @ 8:00 am In Obamacare,Scribe | Comments Disabled

A jubilant President Obama put his signature on health care legislation yesterday, but the work isn’t done quite yet. The U.S. Senate must pass the Reconciliation Act of 2010 [1], making a number of tax changes to current law.

By signing the legislation, Obama already broke his campaign promise not to raise “any form” of taxes [2] on families making less than $250,000 per year. The reconciliation bill adds even more taxes for Americans — an estimated $52.3 billion over 10 years, according to a new analysis from Americans for Tax Reform [3].

ATR’s Ryan Ellis spoke at The Bloggers Briefing [4] yesterday about the reconciliation measure: ”We lost a major fight on Sunday. That fight is lost; President Obama has signed it into law. Rather than wallowing … and waiting until the election, we have a fight this week on the floor in the Senate. Do we want to have an additional tax increase on top of the tax increase that has just been signed into law?”

Heritage’s Robert Book, Guinevere Nell and Paul Winfree have been documenting these tax changes, noting how the legislation imposes new taxes on employers [5], the sick [6], and low-income and moderate-income workers [7].

Below is a table showing taxes that apply to everyone regardless of income.

Article printed from The Foundry: Conservative Policy News from The Heritage Foundation: http://blog.heritage.org

URL to article: http://blog.heritage.org/2010/03/24/reconciliation-bill-adds-even-more-taxes/

URLs in this post:

[1] Reconciliation Act of 2010: http://thomas.loc.gov/cgi-bin/bdquery/z?d111:H.R.4872:

[2] broke his campaign promise not to raise “any form” of taxes: http://www.atr.org/obama-sign-massive-tax-hike-working-a4681

[3] new analysis from Americans for Tax Reform: http://www.atr.org/breaking-comprehensive-list-ofbr-net-tax-a4688

[4] The Bloggers Briefing: http://thebloggersbriefing.com/

[5] imposes new taxes on employers: http://www.heritage.org/Research/Reports/2009/12/Employment-Discrimination-in-the-Senate-Health-Care-Bill

[6] the sick: http://www.heritage.org/Research/Reports/2009/10/Adding-Insult-to-Injury-The-Baucus-Health-Plan-Imposes-New-Taxes-on-the-Sick

[7] low-income and moderate-income workers: http://www.heritage.org/Research/Reports/2009/09/The-Baucus-Individual-Health-Insurance-Mandate-Taxing-Low-Income-and-Moderate-Income-Workers

Copyright © 2011 The Heritage Foundation. All rights reserved.