An executive compensation reform provision in ObamaCare has generated millions of dollars in savings since last year, according to a left-leaning think tank.The Institute for Policy Studies released a report Wednesday that found limiting tax deductions for executive pay at health insurance companies resulted in $72 million to U.S. coffers from the top 10 publicly held firms alone.
“This $72 million in savings from limiting pay-related deductions for just 57 executives is the equivalent of the cost of dental insurance for 262,000 Americans or the average annual health insurance plan deductible for 28,000 people,” the authors of the report wrote. “If the Obamacare executive pay tax provision applied to all major U.S. corporations, not just to health insurers, U.S. taxpayers would save $50 billion over the next 10 years — and deliver a major blow against CEO compensation business as usual,” they added. - By Ferdous Al-Faruque - 08/27/14 The Hill
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