House Democrats are pushing a $940 billion health care overhaul bill that would simultaneously deliver on President Barack Obama's promise to expand coverage while slashing the deficit, a strategy aimed at winning over the party's fiscal conservatives. For the Latest information regarding World News and Health Care, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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House Democrats are pushing to the brink of passage a landmark, $940 billion health care overhaul bill that would simultaneously deliver on President Barack Obama's promise to expand coverage while slashing the deficit, a strategy aimed at winning over the party's fiscal conservatives.
Leaving nothing to chance, the White House announced that Obama has put off a trip to Asia for a second time, delaying it until June. Obama was to have left Sunday -- when the House is planning to vote
Hospitals and doctors, drug companies and insurers would gain millions of new paying customers, but they would also have to adjust to major changes. Medicare cuts would force hospitals to operate more efficiently or risk going out of business, but seniors would see the coverage gap in their prescription benefits gradually eliminated. Insurance companies would face unprecedented federal regulation. Health care industries would be hit with new federal taxes. Upper-income households would face a new tax on investment earnings.
"This is but one virtue of a reform that would bring accountability to the insurance industry and bring greater economic security to all Americans," Obama said. "So I urge every member of Congress to consider this as they prepare for their important vote this weekend."
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