New York (CNNMoney.com) - About 21 million Americans will be uninsured in 2016, when health care reform laws are fully implemented, with 4 million of them subject to a penalty for failing to buy insurance.
Those projections were released Thursday in a report from the nonpartisan Congressional Budget Office. The CBO said that collections from the penalty will total $4 billion a year over the 2017-2019 period.
High-income families making at least $96,000 will pay two-thirds of those fines, while families making between $24,000 and $96,000 will contribute nearly one-third of the funds collected.
Under the health care overhaul, which legislators passed in March, most U.S. residents will be required to purchase health care or pay a fine. By 2016, the penalty will be either a flat $695, or 2.5% of household income - which ever is higher. The fines are capped based on income.
New York (CNNMoney.com) - Conservative radio host Rush Limbaugh is saying adios to the Big Apple and selling his Fifth Avenue penthouse for almost $14 million.
Limbaugh bought the 10-room condo at 1049 Fifth Ave. in 1994 under the name of R H Trust, according to city property documents. The pad sprawls across nearly 5,000 square feet and two of its terraces overlook Central Park and its famous reservoir.
The pre-war property features a double living room; a wood-paneled library; four terraces; enormous baths; and a maid's room. But it's not for the faint of heart - or those afraid of a big renovation. The general appearance can be described as, well, ornate, with trompe l'oeil ceilings and mural-covered walls.
NEW YORK (CNNMoney.com) - The chairman of the Federal Communications Commission outlined rules on Monday that would prohibit Internet providers from selectively blocking Web content and applications.
FCC chairman Julius Genachowski said his proposal would formalize the concept of "Net neutrality." On Monday he added two tenets to an existing set of four industry guidelines that have been recommended by the agency since 2005.
An FCC panel will vote on whether to turn these guidelines into official commission rules sometime in October.
"This is not about government regulation of the Internet," Genachowski said. "It's about fair rules of the road for companies that control access to the Internet."