Friday
Nov202009
Senate Health Bill Would Make Bernie Madoff Proud, Says Thune
Friday, November 20, 2009 at 1:37PM
Travis Martinez - University of New Mexico/Talk Radio News Service
Claiming that Democrats are pulling ‘gimmicks’ on the American public, Senate Republicans on Friday blasted Senate Majority Leader Harry Reid's (D-Nev.) health reform bill, which the Congressional Budget Office says will cost nearly $2.5 trillion after all the provisions have been enacted.
“In the words of the great Yogi Berra, 'this is deja vu all over again',” said Sen. John Thune (R-S.D.). “They [Democrats] assume savings on the [Community Living Assistance Services and Supports Act], which Sen. Conrad has described as a ponzi scheme of the first order...something that Bernie Madoff would be proud of."
The CLASS Act, S.697, sponsored by the late Sen. Edward Kennedy (D-Mass.), would amend the Public Health Service Act to create a national, voluntary disability insurance program under which all employees are automatically enrolled, but are allowed to waive enrollment. Establishing this new program is contingent upon Reid's big bill passing.
Thune his Republican colleagues were flanked by massive charts displaying the nation's current debt as well as potential debt increases that they argued would be caused by H.R. 3590, otherwise known as the "Patient Protection and Affordable Care Act." With a major vote to determine whether or not the bill will proceed to the floor expected to take place Saturday night, GOP leaders are looking to convince a few moderate Democrats to join them.
“It would be our hope that our more moderate colleagues on the Democratic side would respect the wished of the constituents, rather than doing the bidding of Harry Reid,” said Sen. Jon Kyl (R-Ariz.). ”At the end of the day, this health care legislation will impact every American in extraordinary ways. We believe in a very negative way. We hope the views of the American people will be respected."
Claiming that Democrats are pulling ‘gimmicks’ on the American public, Senate Republicans on Friday blasted Senate Majority Leader Harry Reid's (D-Nev.) health reform bill, which the Congressional Budget Office says will cost nearly $2.5 trillion after all the provisions have been enacted.
“In the words of the great Yogi Berra, 'this is deja vu all over again',” said Sen. John Thune (R-S.D.). “They [Democrats] assume savings on the [Community Living Assistance Services and Supports Act], which Sen. Conrad has described as a ponzi scheme of the first order...something that Bernie Madoff would be proud of."
The CLASS Act, S.697, sponsored by the late Sen. Edward Kennedy (D-Mass.), would amend the Public Health Service Act to create a national, voluntary disability insurance program under which all employees are automatically enrolled, but are allowed to waive enrollment. Establishing this new program is contingent upon Reid's big bill passing.
Thune his Republican colleagues were flanked by massive charts displaying the nation's current debt as well as potential debt increases that they argued would be caused by H.R. 3590, otherwise known as the "Patient Protection and Affordable Care Act." With a major vote to determine whether or not the bill will proceed to the floor expected to take place Saturday night, GOP leaders are looking to convince a few moderate Democrats to join them.
“It would be our hope that our more moderate colleagues on the Democratic side would respect the wished of the constituents, rather than doing the bidding of Harry Reid,” said Sen. Jon Kyl (R-Ariz.). ”At the end of the day, this health care legislation will impact every American in extraordinary ways. We believe in a very negative way. We hope the views of the American people will be respected."
Good News For Small Businesses Under New Healthcare Law
Talk Radio News Service
Under the recently approved Patient Protection and Affordable Care Act, many small businesses will be eligible to receive tax credits to pay for their employees' health insurance.
Specifically, businesses with ten or fewer full time equivalent employees, earning $25,000 a year or less, and those with 25 or fewer full time equivalent employees earning $50,000 a year or less will be eligible for a tax credit up to 35%, starting retroactively in January 2010.
In addition, small business owners will be pleased to note that receiving state tax credits will not affect eligibility for federal tax credits under the law.
"Federal credit will never be reduced because an employer is also getting a state health care credit or subsidy," said Assistant Treasury Secretary for Tax Policy Michael Mundaca during a conference call with reporters on Monday morning.
Mundaca gave more good news when he elaborated on the enhanced coverage of the law, which provides for the inclusion of coverage for add-on benefits, like vision and dental care, in addition to traditional medical coverage.
U.S. Department of Labor Secretary Hilda Solis, who also participated in Monday's call, trumpeted the law's subsidy provisions for small businesses.
"The tax credit proposal provides tens of billions of dollars in new tax credits to small businesses to make it easier for them to provide coverage to their employees."