September 19,2012

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Julia Lawless, Antonia Ferrier, 202.224.4515

Facts Are Stubborn Things: Another ObamaCare Broken Promise

New CBO/JCT Analysis Says Millions of Middle-Class Americans Will Be Hit With New Individual Mandate Tax

WASHINGTON - President Obama famously promised: “Under my plan, no family making less than $250,000 a year will see any form of tax increase.” But, according to a new analysis by the non-partisan Congressional Budget Office (CBO) and the Joint Committee on Taxation (JCT), the President’s individual tax mandate under ObamaCare will break this pledge to millions of Americans:

The individual mandate in 2016 alone will cause almost 6 million American taxpayers to pay $7 billion in new taxes. Over the next six years the tax will jump to $8 billion per year.

Almost 80 percent or 4.7 million Americans subjected to this new tax make less than 500 percent  of the federal poverty level.

These 4.7 million Americans making less than $60,000 for singles and $123,000 for a family of four will pay more than HALF—or $3.1 billion—of the new tax.

Despite spending 2.6 trillion dollars on this health spending law, almost 30 million Americans will remain uninsured in 2016 and 20 percent of them  will now be subject to this new onerous tax.