Affordable Care Act mandate delayed
Late this afternoon the Obama administration said it's gonna delay a key part of the Affordable Care Act -- the part that would force companies to provide health insurance coverage for their workers or pay a $2,000 fine.
Assistant Secretary for Tax Policy at the U.S. Department of the Treasury, Mark Mazur, wrote on the department’s Web site:
“We have heard concerns about the complexity of the requirements and the need for more time to implement them effectively. We recognize that the vast majority of businesses that will need to do this reporting already provide health insurance to their workers, and we want to make sure it is easy for others to do so.”
It was supposed to start next year -- now it's not gonna start 'til 2015.