Just months after the Trump administration and the GOP-controlled Congress officially ended Obama’s individual mandate requiring all Americans to face a penalty if uninsured, New Jersey is poised to reinstate the tax as healthcare costs spiral out of control.
“Governor Phil Murphy on Wednesday signed the new tax into law that will impose the tax on residents who choose not to purchase ‘qualifying’ health insurance as defined by Obama-era regulations,” writes Americans for Tax Reform.
According to the organization, nearly 80% of New Jersey households impacted by the Obamacare mandate earn under $50,000, directly harming low-income workers throughout the state who are ineligible for other programs, such as Medicaid.
“78% of New Jersey households hit by the Obamacare mandate tax make less than $50,000 per year. According to the IRS, the Obamacare mandate tax hit 188,570 New Jersey families and individuals in the most recent year of available data. 146,910 of these taxpayers made less than $50,000 per year – 78 percent of those impacted by the mandate,” says the report.
Read the full report here.