AGC Successful in Getting Contractors Temporary Relief from Several Obamacare Taxes
On Monday, the Congress passed a continuing resolution to fund the government through Feb. 8, ending a three-day partial shutdown of the federal government and giving lawmakers a few weeks to negotiate an annual appropriations bill for fiscal year 2018. Prior to the government shutdown, AGCurged Congress to pass a short-term funding bill to avoid the shutdown and provide temporary relief from several Obamacare taxes impacting construction employers.
Specifically, the bill delays until 2022 the Cadillac tax, a 40 percent excise tax on employer-sponsored health coverage whose benefits exceed specific thresholds. The legislation would also provide a one yearmoratorium on the health insurance tax that will increase the cost of health insurance for small business employers, the majority of AGC’s construction contractor membership.
AGC continues to urge Congress to return to regular order, pass annual appropriations bills, and end the unfortunate routine cycle of short-term continuing resolutions.
For more information, contact Jordan Howard at [email protected].