Industry leaders praised Congress for passing an omnibus billDec. 18 that delays the Affordable Care Act's so-called "Cadillactax" and also passes the Policyholder Protection Act. Thelegislation, which is part of a larger bill that funds the federalgovernment, was approved on both sides of the aisle in both theHouse (316-113 vote) and Senate (65-33).

Tax has been delayed until 2020

"The Big 'I' has been greatly concerned about the impact of theACA's 40% excise tax since the day the ACA was signed into law,"says Robert Rusbuldt, president of the Independent Insurance Agents & Brokers of America(IIABA or Big 'I') and CEO, in a statement. "We believe thetwo-year delay of the tax is an important first step, andindependent agents around the country can rest assured that the Big'I' will continue to fight to fully repeal the tax. We look forwardto working with Congress in a bipartisan manner to ensure this taxnever sees the light of day. Now that both the Senate and the Househave passed this important legislation, we urge the President topromptly sign it into law."