Two million more expected to pay penalty under Obamacare
By James O'Toole @CNNMoney September 19, 2012: 7:24 PM ET
NEW YORK (CNNMoney) -- Congress' official scorekeeper said Wednesday that roughly two million more Americans will pay penalties under President Obama's health care law for lacking insurance than had previously been estimated.
Under the law, Americans must be insured starting in 2014 or pay a penalty assessed on their tax returns.
Shortly after the legislation passed in 2010, the Congressional Budget Office, working alongside the Joint Committee on Taxation, estimated that in 2016 roughly four million people a year would opt to pay the penalty instead of getting coverage.
On Wednesday, the CBO and JCT revised that figure up to six million, citing legislation passed since 2010 as well as the weaker economic outlook.
Penalty payments collected in 2016 are expected to total $7 billion, about $3 billion more than previously estimated
http://money.cnn.com/2012/09/19/news/economy/healthcare-law-penalty/index.html?hpt=hp_t1
By James O'Toole @CNNMoney September 19, 2012: 7:24 PM ET
NEW YORK (CNNMoney) -- Congress' official scorekeeper said Wednesday that roughly two million more Americans will pay penalties under President Obama's health care law for lacking insurance than had previously been estimated.
Under the law, Americans must be insured starting in 2014 or pay a penalty assessed on their tax returns.
Shortly after the legislation passed in 2010, the Congressional Budget Office, working alongside the Joint Committee on Taxation, estimated that in 2016 roughly four million people a year would opt to pay the penalty instead of getting coverage.
On Wednesday, the CBO and JCT revised that figure up to six million, citing legislation passed since 2010 as well as the weaker economic outlook.
Penalty payments collected in 2016 are expected to total $7 billion, about $3 billion more than previously estimated
http://money.cnn.com/2012/09/19/news/economy/healthcare-law-penalty/index.html?hpt=hp_t1
