A new analysis finds that the policy would particularly cut into employer-sponsored health insurance.
Former President Donald Trump speaks at a campaign event at Harrah's Cherokee Center on August 14, 2024, in Asheville, North Carolina.
Those workers would collectively pay over $12 billion more in taxes if their employers shifted away from providing benefits as a cost-cutting measure.Under the proposal, “at best, employers would switch compensation away from tax-preferred benefits to taxable wages and salaries, increasing the taxes workers must pay,” wrote Bivens. “At worst, employers would simply cut back on benefits without offering an offsetting increase in wages and salaries.
Currently, roughly 13% of employee compensation in the United States takes the form of nonwage benefits provided by employers . About two-thirds of this chunk of nonwage benefits is employer contributions to health insurance. Employer-provided health insurance is the dominant form of coverage in the United Stateswith over 150 million people receiving health insurance through employer plans .
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