Omnibus Budget Reconciliation Act of 1993

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Omnibus Budget Reconciliation Act of 1993

Legislation in the United States that raised taxes and cut some government spending in order to reduce the federal deficit. It cut spending on entitlement programs by $42 billion while creating higher tax brackets for some wealthy individuals and corporations. The Act came out of a theory that large deficits lead to inflation; this theory was rejected by both New Deal liberals and supply-side economics conservatives, both of whom believed that deficits are relatively unimportant. While the theory behind the Act remains controversial, it led to a projected budget surplus toward the end of the 1990s.
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This provision was later repealed by the Omnibus Budget Reconciliation Act of 1990, Pub.
The Department of Labor (DOL) recently provided guidance on an appeals process for individuals denied premium subsidies for the Consolidated Omnibus Budget Reconciliation Act's (COBRA) group health plan continuation coverage.
Affirming his commitment to make health reform a top priority for his administration, Obama also pledged in February to subsidize premiums paid by unemployed workers who can remain on their former employer's group health plan for 18 months under the federal Consolidated Omnibus Budget Reconciliation Act, or COBRA.
COBRA (Consolidated Omnibus Budget Reconciliation Act) was passed in 1985 to allow laid-off workers to continue their health insurance if they lose their job.
Under the Omnibus Budget Reconciliation Act of 1993, that portion of your membership dues used by the Montana Nurses Association and the American Nurses Association for lobbying expenses is not deductible as an ordinary and necessary business expense.
The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) contains provisions giving certain former employees, retirees, spouses, former spouses and depended children the right to temporary continuation of health coverage at group rates.
Government, were first enacted under the Omnibus Budget Reconciliation Act of 1990, which imposed a 10-percent tax on the following items if their first retail sale price exceeds a certain threshold: aircrafts over $250,000, boats over $100,000, passenger vehicles over $30,000, furs over $10,000, and jewelry over $10,000.
Under the Omnibus Budget Reconciliation Act of 1990 (OBRA), the agreement also must (1) have a bona fide business purpose, (2) not permit a wealth transfer to the natural objects of the decedent's bounty and (3) be comparable to similar arrangements negotiated at arm's length; see Sec.
Other benefits, such as healthcare continuation under the Consolidated Omnibus Budget Reconciliation Act (COBRA), are provided as a result of voluntary and involuntary terminations, in certain circumstances.
Other scoring practices that underpin the congressional budget process, including reconciliation procedures, are rooted partly in scorekeeping guidelines that were included in the joint explanatory statements accompanying two reconciliation acts--the Omnibus Budget Reconciliation Act of 1990 and the Balanced Budget Act of 1997.
The Consolidated Omnibus Budget Reconciliation Act (COBRA) and USERRA allow for health care coverage rights to employees after an event in employment such as a reduction in hours worked due to military deployment.
Just one example: Therapists' salaries in long-term care are not today what they were before the Omnibus Budget Reconciliation Act of 1997.