Inside Obama’s Jobs Bill, there’s a change that your high-earning employees aren’t likely to be too crazy about.
The provision would count a portion of the value of health benefits as taxable income for individuals who earn more than $200,000 per year, and for families who earn more than $250,000.
The provision would take effect in 2013 and was included in the Jobs Bills as a strategy to help fund the estimated $447 billion price tag associated with Obama’s plan to get Americans back to work.
The bill also includes a proposal that would reduce the amount of money individuals in the highest tax bracket can deduct from their out-of-pocket health expenses.
Both Democrats and Republicans are opposed to certain proposals in Obama’s Jobs Bill. So the bill isn’t likely to get passed as it stands right now. We’ll keep you posted.