House Speaker John Boehner is clashing with the Obama administration over H.R. 436, a package that now includes the bill that would eliminate the flexible spending accont (FSA) "use it or lose it" rule.
The best-known section of the new H.R. 436, the Health Care Cost Reduction Act bill, would eliminate a 2.3% excise tax on medical devices that's set to be imposed by the Patient Protection and Affordable Care Act of 2010 (PPACA).
Under current PPACA tax credit rules, taxpayers would estimate how much they are likely to earn in the coming year. The IRS would give them tax-credit credit cash in advance, so that they could use the money to buy health coverage. Some taxpayers could get too much cash.
Current law would require taxpayers to pay some of the extra cash back to the government. The current rules would limit how much low-income and moderate-income taxpayers would have to pay back.