Here's the big bill from Congress suspending three Obamacare taxes: $31 billion

Key Points
  • The suspension of three Obamacare taxes will add more than $31 billion to the federal budget deficit.
  • The taxes, on pricey employer-based health coverage, medical devices and all health insurance plans, were delayed as part of a deal to end the government shutdown.
  • Delay of the so-called Cadillac tax alone will cost the government almost $15 billion.
Pedro Rojas holds a sign directing people to an insurance company where they can sign up for the Affordable Care Act, also known as Obamacare
Joe Raedle | Getty Images

Check out your big bill from Congress having given insurance companies, medical device makers and employers yet another break on Obamacare taxes.

The federal deficit will rise by an extra $31.25 billion as a result of three Obamacare taxes being suspended for up to two years as part of a deal that ended the government shutdown Monday.

That tally comes from Congress' Joint Committee on Taxation, which on Tuesday estimated the revenue that will be lost from delaying imposition of the trio of taxes.

All three levies, which are contained in the Affordable Care Act, had been previously delayed, meaning that the government already was missing out on revenue from their collection.

The biggest loss of income will come from an additional two-year delay, until 2022, of the Cadillac tax, which will impose a 40 percent surcharge on pricey employer-based health insurance plans above certain premium thresholds.

The government will lose almost $14.79 billion from the delay of that unpopular tax, which is to be paid by employers.

The government will miss out on more than another $12.7 billion in taxes from delaying, for one year until the end of 2019, a tax on all health insurance plans.

And the deficit will increase by $3.75 billion by a two-year suspension, also through the end of 2019, of the 2.3 percent excise tax on medical devices.

The suspension of all three taxes was lauded by interest groups opposed to them, who vowed to seek their full repeal before they take effect.

Click on the chart below to view the breakdown of how much the federal deficit will grow because of three Obamacare taxes being suspended:

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