Big Labor’s Health-Care Deal

The details of the backroom deal between Big Labor and the White House on the excise tax on Cadillac plans are leaking out. This report explains:

The deal cut Thursday would raise the value of policies subject to the tax to $24,000 for families and $8,900 for individuals. Plans with significant numbers of women or older workers would receive an additional break, as would workers in high-cost states and high-risk professions. Dental and vision plans would be exempt starting in 2015. And workers with collective-bargaining agreements and government employers would be exempt until 2018, giving labor leaders time to negotiate new contracts.

That takes $60B in revenue out of the package. But not to worry — the difference will be made up by taxing the rich on investment income, because in a recession you can never increase taxes enough on investors and job creators, apparently.

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Big Labor’s Health-Care Deal

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