News Headlines Article

Obama favors ‘Cadillac tax’ for healthcare
Los Angeles Times - Peter Nicholas

President Obama told top Democratic House members on Wednesday that he favored a tax on insurance companies offering more expensive healthcare plans as a means of extending insurance to millions of people who are not covered, according to a person familiar with the meeting. The “Cadillac tax” is a feature of a healthcare bill that cleared the Senate before the Christmas holiday. But the House has chosen another financing method — a tax hike on the wealthy.