Insurance Industry Highlights of Obama’s Fiscal Year 2014 Budget Package
On April 10, 2013 President Obama unveiled a fiscal year 2014 budget blueprint that calls for spending cuts — including reductions in Social Security and Medicare payments — and largely familiar tax increases primarily targeting multinational corporations and upper-income individuals. The insurance specific provisions, for the most part, mirror those that were included in Obama’s 2013 budget proposal. The following discussion highlights those areas that may be of interest to the insurance industry.
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