Power Breakfast: Showdown on health care, Fulton job cuts, bankers’ bankruptcy, CCE-Coke, Greenspan

Look for a weekend showdown on health care.

Pushing toward a Sunday vote that could transform the nation’s health-insurance system, House leaders announced a $940 billion compromise Thursday that would extend coverage to the vast majority of Americans, cut billions of dollars from Medicare, and impose new taxes on the wealthy and the well-insured, the Washington Post reports.

The stakes are so high and the outcome so uncertain that Obama canceled a trip to Indonesia and Australia to continue lobbying undecided lawmakers with phone calls and invitations to White House meetings, the Post writes.

House Democratic leaders hope to approve the Senate bill along with a separate 153-page package of revisions to that bill that House members are demanding. The compromise would extend coverage to an additional 32 million Americans over the next decade by expanding Medicaid eligibility and creating state-run insurance exchanges and federal subsidies for lower-income families who lack access to employer-provided coverage.

All Americans would be required for the first time to obtain insurance or face an annual penalty of $695; employers could face penalties of $2,000 per worker for not offering affordable coverage.

In exchange for the new business, private insurers would be subject to an array of rules, including a ban on the practice of denying coverage to people with preexisting medical conditions and a requirement that adult children be permitted to stay on their parents’ policies until age 26, the Post reports.

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3 comments Add your comment

TnGelding

March 19th, 2010
6:41 am

Should provide some interesting theater. The bills can’t be as bad as the GOP claims can they? If they fail to pass I’d like to see a vote on H.R. 676.

111TH CONGRESS

1ST SESSION H. R. 676

To provide for comprehensive health insurance coverage for all United States
residents, improved health care delivery, and for other purposes.

Wilson Wilson

March 19th, 2010
10:09 am

The bill can’t be that bad? Then please explain why the one most prominent example of bipartisanship in DC today is AGAINST this bill

TnGelding

March 19th, 2010
9:28 pm

Wilson Wilson

March 19th, 2010
10:09 am

Because the GOP is distorting what is in them. Let the regulators weed it out and then decide.