December 11, 2006

THE RIGHT HASN'T EVEN FIGURED OUT IT FINALLY PASSED HSA'S TO BEGIN WITH:

GOP Lawmakers Add Provision to Passing Tax Package: Measure Expands the Amount That Can Be Given Tax-Free to Health Savings Accounts (Jeffrey H. Birnbaum and Lori Montgomery, 12/11/06, Washington Post)

The provision, which materialized without fanfare late last week inside a massive tax-cut measure, expands the amount of money that can be contributed tax-free to health savings accounts (HSAs). The accounts can be used to pay medical bills and for other health-related coverage.

The legislation allows anyone to shelter thousands of dollars annually in HSAs, regardless of how much that person pays for a health-insurance deductible. Current law limits HSA contributions to the amount of a person's deductible. The expansion would cost the government $1 billion in lost tax revenue over the next decade.

Democrats, who will take control of Congress next month, have generally opposed the expansion. But supporters said that House Ways and Means Committee Chairman Bill Thomas (R-Calif.) championed it and pressed it through to final approval in the wee hours Saturday morning.


W just keeps winning.

Posted by Orrin Judd at December 11, 2006 7:59 AM
Comments

"The expansion would cost the government $1 billion in lost tax revenue over the next decade." It is the taxpayers' money. "The expansion would cost the taxpayers $1 billion less in income taxes over the next decade."

Posted by: ic at December 11, 2006 2:00 PM
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