Senate Finance Committee Chairman Max Baucus, D-Mont., says his panel has the votes to approve a health care reform package that would extend coverage to more than 30 million Americans who lack insurance. Baucus and ranking member Chuck Grassley, R-Iowa, say they expect to finish the bill Friday, but a full committee vote will not be held until next week. Aides say this will give congressional budget analysts time to determine how their changes would affect the cost of the measure,
To help defray the cost, the panel agreed to modify a financing provision that would make it harder to deduct medical expenses on personal tax returns. Because congressional tax analysts earlier reported that the proposal would be hard on the elderly, whose medical expenses tend to be higher, the committee voted 14 to 9 to exempt people older than 65.
However over the next decade younger taxpayers would still have to shell out more than 15 billion in new taxes under the plan. Several Republicans assailed it as being unfair. Among the most contentious issues to be resolved is whether to include a government-run insurance plan. The Senate health committee bill includes a government plan, while the Finance Committee plan would authorize the creation of nonprofit, consumer-run cooperatives as an alternative to private coverage.
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