Obama Updates His Healthcare Plan – Third Time’s The Charm?

$950 billion over 10 years, imposition of excise tax on “Cadillac” medical plans (excluding dental and optical), and expanded Social Security taxes on wages, rent and interest income (yes you heard right) for taxpayer making more than $200,000 (single) or $250,000 (joint).

Read the Heritage Foundation’s summary of the major tax provision:

http://blog.heritage.org/2010/02/23/obama%E2%80%99s-health-plan-has-dangerous-new-taxes/

In preparation for the bi-partisan healthcare conference later this week, President Obama released his revised healthcare proposal, which incorporates portions of both the Senate and House versions passed late last year.

With the recent pick up of a key seat in the Senate (Scott Brown- – MA) by the GOP, the Democrats are scrambling to either win over some Republican votes – or resort to the nuclear option of Reconciliation.

The following link from WSJ summarizes the key points of the latest $950 billion proposal:

http://online.wsj.com/public/resources/documents/WHhealth20100222.pdf

The Democrats are threatening the use of the ”Reconciliation” procedure to avoid additional House and Senate debate and votes.  Read about the history and the Reconciliation procedures: 

http://www.rules.house.gov/archives/bud_rec_proc.htm

As reflected in the attached articles, there are a number of hurdles to overcome for the two parties to get beyond the current impasse and President Obama’s legacy and the mid-term elections hang in the balance.

Obama’s weekend healthcare video laying out Thurday Summit’s objectives:

http://www.youtube.com/watch?v=g9NMc3gOBr8

Feb. 22, 2010 Washington Post (Blog) – Obama is the Real Obstructionist:

http://voices.washingtonpost.com/postpartisan/2010/02/obama_is_the_real_obstructioni.html

 

From the U.K. side of the Pond – President Obama Doubles Down on Healthcare:

http://www.ft.com/cms/s/0/586131b2-1fdf-11df-8deb-00144feab49a.html?ftcamp=rss

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