Thursday
Jul302009
House Democrats Demand Robust Public Health Care Option
Thursday, July 30, 2009 at 5:13PM
By Sam Wechsler - Talk Radio News Service
The Congressional Tri-Caucus and Congressional Progressive Caucus announced Thursday that they have 53 signatures vowing not to vote for health care reform unless the legislation contains a robust public option.
Rep. Lynn Woolsey (D-Calif.), Co-Chair for the Congressional Progressive Caucus, stated that many in Congress who favor a single-payer health care system have compromised to ensure a meaningful public option.
Rep. Barbara Lee (D-Calif.), Chair of the Congressional Black Caucus, voiced her support for a public option, arguing that it would guarantee coverage, give people a choice of doctors and hospitals and give private insurers an incentive to lower costs.
“Health care should not be a privilege as it has been in the past, it is a basic human right,” said Lee. She also specified that the insurance rate in the public option would be the Medicare rate plus five percent.
“We need to lower health care costs. The only way to lower health care costs is by providing competition, and the only way we can provide competition is by having a public option,” said Rep. Nydia Velazquez (D-N.Y.).
Rep. Carolyn Cheeks Kilpatrick (D-Mich.) said she doesn't anticipate that any Republicans will vote for a bill with a public option, but added that their votes aren't necessary in order for a bill to pass.
The Congressional Tri-Caucus and Congressional Progressive Caucus announced Thursday that they have 53 signatures vowing not to vote for health care reform unless the legislation contains a robust public option.
Rep. Lynn Woolsey (D-Calif.), Co-Chair for the Congressional Progressive Caucus, stated that many in Congress who favor a single-payer health care system have compromised to ensure a meaningful public option.
Rep. Barbara Lee (D-Calif.), Chair of the Congressional Black Caucus, voiced her support for a public option, arguing that it would guarantee coverage, give people a choice of doctors and hospitals and give private insurers an incentive to lower costs.
“Health care should not be a privilege as it has been in the past, it is a basic human right,” said Lee. She also specified that the insurance rate in the public option would be the Medicare rate plus five percent.
“We need to lower health care costs. The only way to lower health care costs is by providing competition, and the only way we can provide competition is by having a public option,” said Rep. Nydia Velazquez (D-N.Y.).
Rep. Carolyn Cheeks Kilpatrick (D-Mich.) said she doesn't anticipate that any Republicans will vote for a bill with a public option, but added that their votes aren't necessary in order for a bill to pass.
Debate Opens Over Who Should Lend TARP Funds To Small Businesses
Rep. Nydia Velazquez, (D-N.Y.), who heads the Committee on Small Business, proposed that $30 billion from the Trouble Asset Relief Program that was supposed to go to banks to help with small business lending, go directly to the Small Business Administration instead.
“Taking $30 billion and simply handing it to banks- in hopes that they will make loans- is not sound policy,” said Velazquez. “Small businesses are our best job creators, producing 60 percent of new jobs.”
Assistant Treasury Secretary for Financial Stability Herbert Allison said that the Federal Deposit Insurance Corporation (FDIC) reported that lending by the banking industry fell by $587 billion last year.
“We must improve credit conditions for small businesses,” said Allison.
He went on to say that the $30 billion proposed by President Obama for the Small Business Lending Fund (SBLF) would create incentive for small and mid size banks to accelerate small business lending.
Though no resolution came today, lawmakers are expected to vote on the FDIC proposal, which would allow only banks making less than $10 billion to receive funds.