The tax exclusion for employer-sponsored health benefits today came up during the first presidential debate.
Sen. John McCain, R-Ariz., the Republican nominee, said during the debate, held in Oxford, Miss., that he would like to give each American a $5,000 refundable tax credit that could be used to buy health insurance.
Sen. Barack Obama, D-Ill., the Democratic nominee, said McCain would tax group health benefits.
Under the McCain proposal, if a worker lost employer-sponsored coverage, “you’d have to go out to try to buy it on the open market,” Obama said.
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Even if economic turmoil limits what the next presidential administration can do, “we have to fix our health care system,” Obama said. “People are getting crushed.”