LOUISVILLE, KY (WAVE) - Moratoriums can be very good, especially when they are placed on taxes.
That was the case this year for the federal tax on health insurance plans. Congress voted to place a moratorium on it. They need to do so again for next year.
Small businesses face the tax on health insurance premiums in six weeks unless this tax is given another moratorium. Kentucky is home to more than 340,000 small businesses and Indiana has more than 450,000.
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Families, senior citizens on Medicare Advantage plans, and self-employed people face the tax as well. More than 150 million Americans could be impacted.
We urge our congressional delegation in both Kentucky and Indiana to lead the way in extending the health insurance tax suspension for another year.
The last thing we need is to jeopardize more jobs by allowing this tax.