The House Ways and Means Committee recently released a new end-of-year tax package, adding a suspension of the Health Insurance Tax through 2021 to long-term extensions of tax incentives for biodiesel and short line railroads.
The Farm Bureau-supported HIT delay addresses one of farmers and ranchers’ major concerns with the tax—its steep cost.
“The Health Insurance Tax has increased health insurance costs for farmers, ranchers and other small business owners by imposing a levy on the net premiums of health insurance companies that is passed on to consumers,” AFBF President Zippy Duvall wrote earlier this year in a letter to House lawmakers.
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