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No need to repeal it, you can just tweak it

scooterbug44 avatar
scooterbug44SoWal Expert
311 views
In bad news for the "throw the baby out with the bathwater" advocates and good news for the "smart people can admit when they're wrong and fix it" advocates:


Obama signs bill striking small part of health law - Yahoo! News

"WASHINGTON – President Barack Obama has signed the first rollback of last year's health care law, a bipartisan repeal of a burdensome tax-reporting requirement that's widely unpopular with businesses.

The bill Obama signed Thursday repeals a provision that would have forced millions of businesses to file tax forms for every vendor selling them more than $600 in goods each year, starting in 2012. The filing requirement is unrelated to health care. However, it would have been used to pay for part of the new health law by ensuring that vendors pay taxes.

Republicans hope it is the first of many such bills, resulting in the entire health care law being scrapped. Democrats say the bill is part of an inevitable tinkering that will be needed to improve the health measure.

Replies

6
BeachSiO2 avatar
BeachSiO2Beach Fanatic
#2
While I agree with you Scooty that this needs to be removed, one thing to think about is that the money made from this portion of the bill was used to offset some of the costs of the overall health care bill (the amount was $17 billion over 10 years). For anyone that was watching closely, it was clear that this would never stay in the end but it was used as a political tool to get the bill passed. So in essence the health care reform bill is now more expensive than it was upon voting.

One question is where will the offset come from now that this revenue generator is gone. I never heard of an agreed upon source or if the offset is gone.
scooterbug44 avatar
scooterbug44SoWal ExpertAuthor
#3
Yes, I do agree that funding is an important issue, but I just wrote the IRS some $$ checks, so I am for anything that simplifies the process. ;-)

I think closing some tax loopholes and stepping up fraud prosecution could EASILY get far more funding than this provision.
BeachSiO2 avatar
BeachSiO2Beach Fanatic
#4
yes, i do agree that funding is an important issue, but i just wrote the irs some $$ checks, so i am for anything that simplifies the process. ;-)

i think closing some tax loopholes and stepping up fraud prosecution could easily get far more funding than this provision.

amen!!!
30ashopper avatar
30ashopperSoWal Insider
#6
If you guys think the budget battle we're seeing today in Tallahassee is epic, just wait until Obamacare's state medicaid expansions kicks in. We'll need around 2 - 3 billion in additional funds. Where do you suppose that will come from? The same areas we're pulling funding from now to balance our current budget. Education cuts and property tax increases? Oh yeah, their coming.
BeachSiO2 avatar
BeachSiO2Beach Fanatic
#7
If you guys think the budget battle we're seeing today in Tallahassee is epic, just wait until Obamacare's state medicaid expansions kicks in. We'll need around 2 - 3 billion in additional funds. Where do you suppose that will come from? The same areas we're pulling funding from now to balance our current budget. Education cuts and property tax increases? Oh yeah, their coming.

I'll give you a hint on where I think it will come from. A source that I have to pay now that I live in SC that I didn't have to pay when I lived in FL.

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