House To Vote On Healthcare Bill By August
Democrats from the House of Representatives promised on Tuesday they would pass an extensive healthcare bill by August.
The bill aims to revamp the nation’s healthcare system with a proposed tax on the wealthy that would generate about $540 billion over a period of 10 years.
"The president made it very clear that this was his Number One priority," House Democratic Leader Steny Hoyer told reporters. "We believe this can be done."
Debate on the bill is expected to begin this week, when it is expected that Republicans will voice their opposition to the bill.
The bill proposes that a government-run health insurance program will compete with private insurers. The insurance firms would have to offer coverage without higher premiums for patients with pre-existing medical conditions.
The House Ways and Means Committee said it intends to vote on the measure on Thursday. The Committee is one of three that must approve the 1,000-page proposal before it can continue to the House.
"This is not a government takeover of healthcare," Democratic Representative Jason Altmire said on Monday.
Many fiscally conservative members of the House are expected to be weary of the $1 trillion cost of the comprehensive plan. Hoyer said he plans to address their concerns to promise no increase in the federal deficit, according to Reuters.
Tax increases would be imposed on individuals who earned at least $280,000 annually, as well as couples who earned $350,000 each year.
Congressional sources told Reuters the top rate increase for millionaire would be 5.4 percent.
—
On the Net: