Amends Section 303 to provide it does not apply in the case of a taxpayer who is an individual, except to the extent that such amount is paid or incurred in carrying on a trade or business.
"Mr. Chairman, my amendment would prevent tax increases for individuals who would be subject to such increases pursuant to Section 303(1) of the bill.
The title of this bill is misleading. This is not about funding abortions. We already have the Hyde Amendment which prohibits federal funding of abortions. This is about taking away a woman's right to choose.
This bill is a tool that the majority is using to push the abortion debate into the tax code. H.R. 3 would increase taxes in order to prevent women from obtaining abortion care.
While women would be disproportionately harmed under the bill because they are most likely to spend funds on abortion procedures, men would be affected as well.
Many men purchase insurance policies that cover their family, spouse and dependents, and may use funds to cover abortion care for them.
Again, this is baffling to me. The same lawmakers who campaigned on growing our economy and cutting taxes are now trying to impose new tax penalties on individuals who happen to choose a procedure that they do not agree with.
This bill would impose tax increases on individuals who have health insurance that covers abortion. Currently, most insurance plans cover abortion.
This bill would make any insurance plan that includes coverage of abortion ineligible for premium assistance, thereby raising taxes on potentially millions of otherwise eligible families.
This bill is cruel as it would raise taxes on some workers who lose their jobs as a result of outsourcing.
Under current law, certain workers who lose their jobs as a result of outsourcing to foreign countries may be eligible for a Health Coverage Tax Credit.
The Health Coverage Tax Credit pays 80% of the costs of a qualified health plan premium for eligible workers. H.R. 3 makes any insurance plan that includes coverage of abortion ineligible for the Health Coverage Tax Credit, thereby raising taxes on potentially thousands of displaced workers.
H.R. 3 would also impose tax increases on women who use their tax preferred savings accounts, such as flexible spending or a health savings account, to pay for abortion care.
Currently, individuals and employers can contribute wages to these accounts and they would be exempt from taxation. Under H.R. 3, these funds would no longer be exempt, and she would have to pay income tax on any funds needed to cover an abortion procedure.
Further, this bill would penalize low and middle-income people. The Affordable Care Act created a refundable tax credit for individuals who purchase health insurance through an exchange.
Under this bill, individuals who purchase insurance on an exchange would lose a tax credits, and practically be precluded from obtaining insurance with coverage for abortion care.
The fact that H.R. 3 specifically references premium assistance shows the sponsor's intent that it apply to the Affordable Care Act.
Why would we want to hurt women, low and middle-income individuals, and displaced workers? That is what this bill would do.
I urge the Members of the Committee to vote this amendment out favorably.
Thank you, Mr. Chairman, and I yield back the balance of my time."