Wednesday, October 18th
Senate Version of Healthcare Bill Drops to $849 Billion – what a deal!
Politico.com Executive Summary – .5% increase in lockbox Medicare Hospital Insurance Tax payroll tax for taxpayers making more than $200,000 (for single taxpayers) and $250,000 (for married couples):
Christian Science Monitor Article:
Sunday, October 8th, 11.30 p.m. PST Updates
Chinese Less Than Thrilled With House Healthcare Package
Chinese Premier Wen Jiabao on Sunday exhorted the U.S. to keep its deficit in control to stabilize the U.S. dollar exchange-rate, according to media reports.
“I hope that as the largest economy in the world and an issuing country of a major reserve currency the United States will effectively discharge its responsibilities,” Wen said at a news conference in Egypt, according to wire reports.
China is the largest foreign holder of U.S. Treasurys.
Earlier this year, Chinese officials expressed concern about the continued value of those holdings as the U.S. pumps trillions of dollars into the financial system to pull the economy out of a severe recession. The U.S. Treasury has been issuing record amounts of debt to close the country’s budget gap.
“Most importantly, we hope the U.S. will keep its deficit at an appropriate size so that there will be basic stability in the exchange rate and that is conducive to the stability and recovery of the world economy,” he said.
Bloomberg House-Senate Summary:
Associated Press Article:
U.S. Chamber of Commerce Perspective:
Heritage Foundation Perspective, including various underlying cost studies:
Update Saturday, November 7th 8:30 p.m.
Earlier this hour, the House passed H.R. 3962 – House version of the nearly 2,000 page/ $1.2 Billion healthcare reform package by a very slim 220 – 215 margin – with only a single Republican from Louisiana (Cao) supporting the package – and that vote was curiously only cast after the 218 vote threshold for passage was met.
The Conference Committee and Senate debate will shine a brighter light on the specific provisions which have been shoehorned into this bloated monstrosity.
This morning President Obama encouraged the Representatives to stand firm and effectively ignore their constituents back home. The coming weeks will be very telling as to how home district voters will take being ignored by their representatives.
Click on the Huffington Post link below for the evolving details of this historic bill:
As Congress pushes forward with their $1.2 TRILLION (that’s 1,200 BILLION Dollars for you non-mathematician) healthcare package, it is important to understand how the House and Senate versions will impact businesses, doctors, patients and taxpayers.
The attached side-by-side comparison will provide you with a helpful overview of the projected impact of both versions of the current bills (which are changing hourly).
Republican proposal provides lower-cost alternative:
Read about the 5.4% surtax payable by higher income taxpayers:
Call your representatives NOW to let them know your thoughts.