Daily Tax Update - October 22, 2009

HOUSE LEADERS OPTIMISTIC OVER PUBLIC OPTION SUPPORT:  House Leadership officials expressed confidence that they have 218 votes in support of a public option plan for their health care reform bill. House Ways and Means Committee Chairman Charles Rangel said that there was “a general feeling” the 218 figure was obtainable. Democratic Caucus Chairman John Larson added, “We think we have the votes now. We have the votes to pass a robust public option.” 

• However, other House Democrats expressed concern over other provisions in the bill.  Rep. Jason Altmire said, “I think they’re miscalculating to say that just because you’re OK on the public option, you’re going to support the bill. I have big problems with the bill and may not vote for it.” Today, 36 moderate House Members wrote House Speaker Pelosi and House Majority Leader Hoyer. Their letter said, “CBO Director Douglas Elmendorf has already indicated that the bill being considered by the House does nothing to rein in the cost of health care, and therefore may not be sustainable outside the ten-year budget window. We will be unable to support any health care legislation that doesn’t meet the president’s goals of driving down and holding down the cost of health care, as determined by CBO.”
• Meanwhile, regarding the Senate bill, Sen. Arlen Spector said, “Let’s see how it all falls into place. We’ll have a bill, we will have it on the floor subject to debate, and the Senate will work its will and so will the House—go through regular order.”

TAX BILLS INTRODUCED OCTOBER 21^ST:
H.R.3887: To amend the Employee Retirement Income Security Act of 1974, the Public Health Service Act, and the Internal Revenue Code of 1986 to improve health insurance coverage of dependents.
Sponsor: Rep Blunt, Roy [MO-7] (introduced 10/21/2009)      Cosponsors (5)

H.R.3889: To amend the Internal Revenue Code of 1986 to repeal the percentage floor on medical expense deductions, expand the use of tax-preferred health care accounts, and establish a charity care credit, to amend the Social Security Act to create a Medicare voucher program and reform EMTALA requirements, and to amend Public Health Service Act to provide for cooperative governing of individual health insurance coverage offered in interstate commerce.
Sponsor: Rep Broun, Paul C. [GA-10] (introduced 10/21/2009)      Cosponsors (None)

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