Democrats drove another nail into the coffin of the unpopular “Cadillac” tax on expensive health plans created under Obamacare.
The Democratic Party platform released Friday calls for ending the planned excise tax on high-cost healthcare plans that has been nicknamed the “Cadillac” tax. Democrats have largely joined Republicans in opposing the tax.
“We will repeal the excise tax on high-cost health insurance and find revenue to offset it because we need to contain the long-term growth of health care costs, but should not risk passing on too much of the burden to workers,” the platform said.
The tax, which goes into effect in 2020, is a 40-percent tax on high-cost, employer-sponsored healthcare plans. It was created to rein in healthcare costs but has generated major opposition from businesses.
Republicans have complained about the tax for years, but Democrats have joined the bandwagon as labor unions, a key Democratic constituency, vehemently oppose it.
Presumptive Democratic nominee Hillary Clinton has previously called for killing the tax.