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September 19, 2012 at 01:00 PM
WASHINGTON (AP) — Congressional budget analysts are now estimating that nearly 6 million Americans — most of them in the middle class — will have to pay a tax penalty for not getting health insurance once the Patient Protection and Affordable Care Act (PPACA) is fully in place.
See also: PPACA: A History
That’s 2 million more than a previous estimate found, or a 50 percent increase. The average penalty will be nearly $1,200.
Starting in 2014, the new health care law requires virtually every legal resident of the U.S. to carry health insurance, or face a tax penalty. The Supreme Court upheld PPACA as constitutional after finding that the penalty fell within the power of Congress to impose taxes.
The nonpartisan Congressional Budget Office said Wednesday the penalty will raise $6.9 billion when fully in effect in 2016.
