mr. gardner: mr. president.
the presiding officer: the
senator from colorado.
mr. gardner: thank you,
mr. president.
i come to the floor this
afternoon to talk about the
health care tax relief act,
legislation that i have
introduced to delay the health
insurance tax that was created
by the affordable care act.
this tax often referred to as
the hit or h.i.t. tax, the
h.i.t. tax imposes fees on
health insurance coverage to
consumers.
it's a pretty simple business
concept that this h.i.t. tax
results in, that if a fee
increases on an insurance
policy, if a fee goes up,
there is a fee charge to the
company that issues this
insurance policy, then that fee
gets passed on to the consumer.
it's the consumer then that pays
the fee in the form of higher
health insurance costs.
as is the case with most excise
taxes, whether it's an excise
tax on food or beverage or any
other item, personal good, if
this tax takes effect, this
health insurance tax takes
effect, costs will be passed on
to...