Federal Spotlight: Axne Co-sponsors Legislation to Delay HIT

Congresswoman Cindy Axne (D-West Des Moines) recently added her name to a bill that would delay the implementation of the Health Insurance Tax (HIT). The HIT is currently set to go into effect in 2020. The legislation, H.R. 1398, would impede the HIT from being imposed until 2022. The tax was created under the Affordable Care Act as a means of helping to pay for the program. It would affect small and large employers and ultimately lead to individuals and companies paying higher costs and more in premiums. ABI recently penned a letter to Congresswoman Axne, Congresswoman Abby Finkenauer (D-Dubuque) and Congressman Dave Loebsack (D-Iowa City) asking them to co-sponsor the legislation. Congressman Steve King (R-Kiron) was already a co-sponsor of the bipartisan legislation at the time the letter was sent. ABI would like to thank Congresswoman Axne and Congressman King for opposing this burdensome tax by sponsoring H.R. 1398.