Obama Tax Plan Targets Insurers

LifeHealthPro is reporting that the Obama administration appears to be targeting insurers with a recent tax reform proposal that "appears to mirror the sweeping tax hikes on the insurance industry proposed... in the president's budget for 2013" in its article: Obama Tax Plan Draws Bead on Insurers.
While all the proposals regarding insurance were not fully disclosed, changing the tax treatment for certain policies would be one element of a broader tax hike package involving a number of industries.
One of the products apparently targeted by the Obama administration is corporate-owned life insurance, also known as COLI.
President Obama’s framework for business tax reform casts an evil eye at corporate-owned life insurance, one of the industry’s most profitable products.
These proposals are part of a "five-pronged program" that the president said, according to LifeHealthPro, are intended to "eliminate dozens of different tax expenditures and fundamentally reform the business tax base to reduce distortions that hurt business and growth."
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