Wisconsin Business Taxes Will Increase Millions if Walker Rejects Medicaid Dollars
On a Media Call Friday morning health advocates discussed new research that shows that Wisconsin businesses will pay $120 million more in federal taxes if Governor Scott Walker rejects increased federal Medicaid money offered by the Affordable Care Act, the national health care reform law.
Milwaukee: On a Media Call Friday morning health advocates discussed new research that shows that Wisconsin businesses will pay $120 million more in federal taxes if Governor Scott Walker rejects increased federal Medicaid money offered by the Affordable Care Act, the national health care reform law.
The reason for this huge tax differential is that under the terms of the Affordable Care Act employers with over 50 employees who do not offer adequate health insurance pay an additional tax penalty if their employees enroll in the new health exchanges. They do not pay a tax penalty if employees enroll in Medicaid (BadgerCare).
“Another important reason the Governor and the Legislature should accept hundreds of millions in federal money to fill the gaps in BadgerCare is to protect Wisconsin employers from a massive federal tax increase,” said David Riemer, Senior Fellow at Community Advocates Public Policy Institute, and the author of the analysis.
“The case for accepting the new federal investment in Wisconsin’s health is so overwhelming that it is hard to believe any responsible leader would seriously consider turning it down. The Community Advocates analysis provides yet another compelling reason to accept the federal money to fill the holes in BadgerCare,” said Robert Kraig, Executive Director of Citizen Action of Wisconsin. “In addition to the many health, economic, and fiscal benefits of taking the money, we know that Wisconsin business will pay over a hundred million in unnecessary federal taxes if Governor Walker and the Legislature turns down this critical federal investment.”
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.
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