Posted by | October 29, 2009 11:08 | Filed under: Top Stories

House Speaker Nancy Pelosi has unveiled a $894 billion health care package,


[The bill] would provide insurance to up to 36 million people by broadly expanding Medicaid, the state-federal insurance program for the poor, and by offering subsidies to moderate-income Americans to buy insurance either from private carriers or a new government-run plan.

 

According to the Congressional Budget Office, the bill would reduce future federal deficits by about $30 million over the next 10 years, meeting President Obama’s demand that the health legislation not add “one dime” to the nation’s indebtedness.

 

There are some differences between the House bill and the Senate measure:


The House bill, for instance, would impose a new income surtax on individuals earning more than $500,000 and couples earning more than $1 million — a so-called millionaire’s tax.

 

The Senate would impose a tax on high-cost insurance policies, a move that experts say could help lower long-term health care costs by giving employers, employees and private insurers incentive to reduce expenditures.

 

And there are many similarities:


In addition to expanding coverage for the uninsured, both the House and Senate version of the legislation would severely tighten restrictions on the health insurance, for instance, by barring the denial of coverage based on pre-existing medical conditions.

 

Let’s see what the party of “no” says.

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Copyright 2009 Liberaland
By: Alan

Alan Colmes is the publisher of Liberaland.