Finance chiefs, who have spent the past decade brainstorming how to avoid the brunt of the so-called Cadillac tax, can close their spreadsheets and exhale.
President Trump on Friday signed a nearly $1.4 trillion spending package to fund the government through the end of the fiscal year. The deal included the tax’s repeal as a policy provision.
The 40% levy on high-cost employer health insurance, which was delayed twice, was scheduled to go into effect in 2022. The tax, part of the 2010 Affordable Care Act, represented a decadelong burden for CFOs, who were simultaneously devising strategies to deal with rising health-care costs.