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House approves GOP bill repealing medical tax

June 7, 2012 RSS Feed Print

In its veto letter, the White House complained that the tax repeal would weaken the health care law, and said raising money by boosting subsidy refunds would be a tax increase on many families and discourage many of them from getting health coverage.

The bill also included provisions letting people get refunds of up to $500 if they don't use all the money in their medical flexible spending accounts, and allowing owners of some tax-favored health savings accounts to use the funds to buy over-the-counter medications.

Those two items would have a 10-year price tag of $8 billion.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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