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House May Tax Payrolls, Drop Wealth Levy to Finance Health Plan [View All]

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girl gone mad Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-08-10 02:50 PM
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House May Tax Payrolls, Drop Wealth Levy to Finance Health Plan
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Source: Bloomberg

Jan. 8 (Bloomberg) -- U.S. House lawmakers may agree to pay for the nations health-care overhaul by adopting versions of Senate proposals to raise Medicare payroll taxes and tax health benefits for the first time, Democratic aides said.

House leaders may also discard a plan to impose a surtax on the wealthiest Americans, which has come under fire from some Senate Democrats, aides said.

Financing the expansion of insurance coverage to more than 90 percent of Americans looms as the largest issue facing Congress. House Speaker Nancy Pelosi, seeking to merge her bill with Senate legislation, yesterday briefed the Democratic caucus on party leaders discussions during a conference call.

The talks are at a preliminary stage until the Senate returns later this month, and House Ways and Means Committee Chairman Charles Rangel predicted tough negotiations. Some House members are vowing to put up a fight over the legislation, which is estimated to cost about $1 trillion over 10 years.

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