January 6, 2016
H.R. 3762 – The Restoring Americans’ Healthcare Freedom Reconciliation Act – will be placed on the President’s desk today. This legislation would repeal significant provisions included in Obamacare, such as:
• Individual and Employer Mandates – H.R. 3762 effectively repeals Obamacare’s requirements that all individuals obtain health insurance in some form or face tax penalties, and that employers with more than 50 employees provide health insurance or face tax penalties.
• Medicaid Expansion –Effective in 2018, H.R. 3762 eliminates Obamacare’s expansion of Medicaid, which allowed states to extend health care benefits to individuals and families with income levels up to 138 percent of the federal poverty level.
• Health Insurance Subsidies – Effective in 2018, H.R. 3762 repeals Obamacare’s premium tax credit and cost-sharing reductions that help reduce costs for individuals who purchase insurance through state health care exchanges.
If signed into law, this bill would also repeal more than a dozen unnecessary and burdensome taxes that were used to help finance the expansion of health coverage under Obamacare, such as:
• The Cadillac Tax – H.R. 3762 repeals the law's tax on certain high-value employer-sponsored health insurance plans, which applies a 40 percent non-deductible excise tax on plans valued above certain levels.
• The Medical Device Tax – H.R. 3762 repeals the law's 2.3 percent Medical Device Tax that is imposed on a wide array of medical equipment, particularly those used in hospitals and doctors' offices.
• The Net Investment Tax – Repeals the 3.8 percent tax on net investment income that became effective in 2013 for taxpayers with incomes above certain levels.
Last year, we learned of the horrific and disturbing events taking place at Planned Parenthood clinics throughout the country, including the sale of fetal body parts. If enacted, H.R. 3762 would implement a one-year suspension of federal funding to any entity that performs abortions and receives more than $350 million a year in Medicaid funds; that includes hundreds of Planned Parenthood facilities nationwide.
Congressman Sensenbrenner: “From the beginning, my conservative colleagues and I knew that President Obama’s healthcare law was nothing more than bad medicine for the American people. We’ve been working diligently for many years to see its repeal, and today, for the first time, we’ve been able to place significant conservative legislation on the President’s desk that would not only repeal harmful mandates, but eliminate unnecessary taxes on the hardworking American families and small businesses that cannot afford them.”
The full text of H.R. 3762 is available here.