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By the Numbers, Taxes in the Modified House Bill

From the Republican staff of the U.S. House Committee on Ways and Means:

TOP TEN TAX INCREASES INCLUDED IN H.R. 3962 (as modified by the manager’s amendment)

1. SMALL BUSINESS SURTAX (Sec. 551, p. 336)………..……………..$460.5 BILLION

2. EMPLOYER MANDATE TAX* (Secs. 511-512, p. 308)…………..$135.0 BILLION

3. INDIVIDUAL MANDATE TAX* (Sec. 501, p. 296)………….……….$33.0 BILLION

4. MEDICAL DEVICE TAX* (Sec. 552, p. 339)………………….……….$20.0 BILLION

5. $2,500 ANNUAL CAP ON FSAs* (Sec. 532, p. 325)…………..$13.3 BILLION

6. PROHIBITION ON PRE-TAX PURCHASES OF OVER-THE-COUNTER DRUGS
ON HSAs, FSAs, AND HRAs* (Sec. 531, p. 324)………………$5.0 BILLION

7. TAX ON HEALTH INSURANCE POLICIES TO FUND COMPARATIVE EFFECTIVENESS
RESEARCH TRUST FUND* (Sec. 1802, p. 1162)…….……………$2.0 BILLION

8. 20% PENALTY ON CERTAIN HSA DISTRIBUTIONS*
(Sec. 533, p. 326)…………………………………………………$1.3 BILLION

9. OTHER TAX HIKES AND INCREASED COMPLIANCE COSTS
ON U.S. JOB CREATORS………………………………………….$80.3 BILLION

Ø IRS reporting on payments to certain businesses (Sec. 553, p. 344)…$17.1 BILLION

Ø Repeal of worldwide interest allocation rules (Sec. 554, p. 345)………$26.1 BILLION

Ø Cellulosic Biofuel Credit (New Sec. 555, inserted on p. 346)…………..$23.9 BILLION

Ø Override U.S. treaties “insourcing” businesses (Sec. 561, p. 346)……$7.5 BILLION

Ø Codify economic substance doctrine and penalties (Sec. 562, p. 349).$5.7 BILLION

10. OTHER REVENUE-RAISING PROVISIONS………………………….$2.2 BILLION

TOTAL TAX INCREASES…………………………………………………$752.6 BILLION

* = violates President Obama’s pledge to avoid tax increases on Americans earning less than $250,000

Sources: Joint Committee on Taxation, Congressional Budget Office

Note: All section numbers refer to H.R. 3962 as modified by the manager’s amendment; all page numbers refer to H.R. 3962 as introduced

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