Dems warn Pelosi on insurance excise tax

As House Speaker Nancy Pelosi hunts around for ways to raise enough revenue to fund the Democratic plan to reform health care, her caucus is warning her against an excise tax on luxury insurance plans.

Half the Democratic caucus signed a letter sent to Pelosi Wednesday urging her to reject a plan similar to the one proposed in the latest Senate health care reform bill that would tax high-cost insurance proposals by as much as 40 percent.

“Such a tax could impact regions with high health care costs in the short-term and, in the long-term, inevitably extend to more middle-income Americans across the country,” wrote Rep. Joe Courtney, D-Conn.

The letter was signed by 157 Democrats, more than 60 percent of the entire Democratic caucus.

Democrats are weighing a number of taxes to fund their health care plan. Pelosi told PBS's Charlie Rose Monday she would consider a value-added tax.

The proposal to tax high-end health insurance companies as written in the Senate health care bill would raise $219 billion over a decade, according to the Congressional Budget Office.
 

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