Biden signs massive climate and health care legislation
Biden President Joe Biden speaks before signing the Democrats' landmark climate change and health care bill in the State Dining Room of the White House in Washington, Tuesday, Aug. 16, 2022. It also would help an estimated 13 million Americans pay for health care insurance by extending subsidies provided during the coronavirus pandemic. “In normal times, getting these bills done would be a huge achievement,” Senate Majority Leader Chuck Schumer, D-N.Y., said during the White House ceremony. He plans to hold a larger "celebration" for the legislation on Sept. 6 once lawmakers return to Washington. The White House announced Monday that it was going to deploy Biden and members of his Cabinet on a “Building a Better America Tour” to promote the recent victories.
wftv.comBiden to sign massive climate and health care legislation
It also would help an estimated 13 million Americans pay for health care insurance by extending subsidies provided during the coronavirus pandemic. He plans to hold a larger "celebration" for the legislation on Sept. 6 once lawmakers return to Washington. Though Democrats have labeled the measure the Inflation Reduction Act, nonpartisan analysts say it will have a barely perceptible impact on prices. Still, Biden and Democrats are hailing the legislation as a once-in-a-generation investment in addressing the long-term effects of climate change, as well as drought in the nation's West. Another $64 billion would help 13 million people pay premiums over the next three years for privately bought health insurance under the Affordable Care Act.
wftv.comBiden to sign massive climate, health care legislation
Biden FILE - President Joe Biden in the East Room of the White House, Aug. 10, 2022, in Washington. Biden is preparing to sign Democrats' landmark climate change and health care bill. It also would help an estimated 13 million Americans pay for health care insurance by extending subsidies provided during the coronavirus pandemic. Still, Biden and Democrats are hailing the legislation as a once-in-a-generation investment in addressing the long-term effects of climate change, as well as drought in the nation’s West. Another $64 billion would help 13 million people pay premiums over the next three years for privately bought health insurance under the Affordable Care Act.
wftv.comBiden to sign massive climate, health care legislation
Biden FILE - President Joe Biden in the East Room of the White House, Aug. 10, 2022, in Washington. Biden is preparing to sign Democrats' landmark climate change and health care bill. It also would help an estimated 13 million Americans pay for health care insurance by extending subsidies provided during the coronavirus pandemic. Still, Biden and Democrats are hailing the legislation as a once-in-a-generation investment in addressing the long-term effects of climate change, as well as drought in the nation’s West. Another $64 billion would help 13 million people pay premiums over the next three years for privately bought health insurance under the Affordable Care Act.
wftv.comCongress OKs Dems' climate, health bill, a Biden triumph
Another $64 billion would help 13 million people pay premiums over the next three years for privately bought health insurance. More would flow from higher taxes on some $1 billion corporations, levies on companies that repurchase their own stock and stronger IRS tax collections. The bill had its roots in early 2021, after Congress approved a $1.9 trillion measure over GOP opposition to combat the pandemic-induced economic downturn. With Manchin opposing those amounts, it was sliced to a roughly $2 trillion measure that Democrats moved through the House in November. He unexpectedly sank that bill too, earning scorn from exasperated fellow Democrats from Capitol Hill and the White House.
wftv.comDems near congressional passage of climate, health package
“Democrats believe they can spend their way out of inflation and tax their way out of recession," said Rep. Jason Smith, R-Mo. Another $64 billion would help 13 million people pay premiums over the next three years for privately bought health insurance. More would flow from higher taxes on some $1 billion corporations, levies on companies that repurchase their own stock and stronger IRS tax collections. The bill had its roots in early 2021, after Congress approved a $1.9 trillion measure over GOP opposition to combat the pandemic-induced economic downturn. With Manchin opposing those amounts, it was sliced to a roughly $2 trillion measure that Democrats moved through the House in November.
wftv.comDems near congressional passage of climate, health package
Congress Budget House Speaker Nancy Pelosi of Calif., speaks during a news conference on Capitol Hill, Wednesday, Aug. 10, 2022, in Washington. Democrats were poised to muscle the measure through the narrowly divided House Friday over solid Republican opposition. They employed similar party unity and Vice President Kamala Harris’ tiebreaking vote Sunday to power the measure through the 50-50 Senate. In a pair of top Democratic health priorities, another $64 billion would help 13 million people pay premiums over the next three years for privately bought health insurance. With Manchin opposing those amounts, it was sliced to a roughly $2 trillion measure that Democrats moved through the House in November.
wftv.comHouse Dems set to overcome GOP for climate, health care win
A flagship Democratic economic bill perched on the edge of House passage Friday, placing President Joe Biden on the brink of a back-from-the-dead triumph on his climate, health and tax goals that could energize his party ahead of November’s elections. Democrats were poised to muscle the measure through the narrowly divided House Friday over solid Republican opposition. The package is but a shadow of Biden's initial vision and was produced only after a year of often bitter infighting between party leaders, progressives and centrists led by Sen. Joe Manchin, D-W.Va., empowered by that chamber's even split.
news.yahoo.comWhat Medicare Part A’s belly-up date means for you
At its current pace, Medicare’s Hospital Insurance trust fund will run out of money in 2028, according to the June 2022 Medicare trustees report. If the Medicare Hospital Insurance trust fund is depleted, it doesn’t mean Medicare Part A will implode. “This part of the Medicare program won’t be able to make payments to health care providers and health insurers that are due, and those payments will become increasingly delayed over time,” says Matthew Fiedler, a senior fellow with the USC-Brookings Schaeffer Initiative for Health Policy.
news.yahoo.comJohnson steps on political land mine with Social Security, Medicare comments
Sen. Ron Johnson (R-Wis.), a stalwart Senate ally of former President Trump, is facing fresh uncertainty in his race for reelection after telling a podcast last week that Social Security and Medicare should be classified as discretionary spending, with Congress authorized to set their budgets every year. Johnson had been cruising to reelection in…
news.yahoo.comHarris breaks 50-50 deadlock to advance landmark climate, tax, health bill
The Senate voted along party lines Saturday afternoon to advance a sweeping bill to reform the tax code, tackle climate change and lower the cost of prescription drugs, taking a big step closer to giving President Biden a major victory before the November midterm elections. The Senate voted 51 to 50 to proceed to the 755-page bill,…
news.yahoo.comSenate parliamentarian OKs most of Dems' drug price controls
Congress Budget Senate Majority Leader Chuck Schumer of N.Y., speaks during a news conference Friday, Aug. 5, 2022, at the Capitol Hill in Washington. (AP Photo/Mariam Zuhaib) (Mariam Zuhaib)WASHINGTON — (AP) — The Senate parliamentarian narrowed Democrats' plan for curbing drug prices but left it largely unscathed Saturday, Democrats said, as party leaders prepared to start moving their sprawling economic bill through the chamber. Elizabeth MacDonough, the chamber's rules arbiter, said provisions must be removed that would force drugmakers to pay rebates if their prices rise above inflation for products they sell to private insurers. But pharmaceutical companies would have to pay those penalties if their prices for drugs bought by Medicare rise too high. Other parts of the legislation, such as letting Medicare negotiate costs for the drugs it buys, capping seniors' out-of-pocket expenses and providing free vaccines, all survived.
wftv.comSenate parliamentarian OKs most of Dems' drug price controls
The Senate parliamentarian narrowed Democrats' plan for curbing drug prices but left it mostly unscathed Saturday, Democrats said, as party leaders prepared to start moving their sprawling economic bill through the chamber. Elizabeth MacDonough, the chamber's rules arbiter, said provisions must be removed that would force drugmakers to pay rebates if their prices rise above inflation for products they sell to private insurers. Pharmaceutical companies would have to pay those penalties if their prices for drugs bought by Medicare rise too high.
news.yahoo.comDrug industry poised for rare political loss on prices
Polling has shown for years that huge majorities of Americans from both parties support Medicare negotiation of drug prices. Advertisement“Now, finally, like every other country in the world, we’ll be able to negotiate with drug companies on expensive drugs. Faced with dwindling returns, drug companies would lack incentives to seek new uses for approved drugs, Ubl said. After launch, drug companies would face financial penalties if they continue to raise prices faster than the rate of inflation. Drug companies an incentive to capture as much profit as possible in those initial years.
washingtonpost.comDeal on Capitol Hill could ease seniors' health costs
(AP Photo/Susan Walsh) (Susan Walsh)A deal on Capitol Hill that could cut prescription drug costs for millions of Medicare beneficiaries was cautiously cheered by older Americans and their advocates Thursday even as many worried it might never come to fruition. Some Medicare beneficiaries have had to pay out of pocket for recommended immunizations, such as the one against shingles. If passed, an estimated 4.1 million Medicare beneficiaries would start getting free vaccines as soon as next year, Neuman said. She is a retired nurse and her husband a retired accountant, and said that while they aren't poor, drug costs leave them little wiggle room. The cap on out-of-pocket costs would help him once it kicks in.
wftv.comPharmacies can't discriminate on reproductive health scripts
The Biden administration is warning pharmacies not to discriminate against women who may seek reproductive health prescriptions, including some that might be involved in ending a pregnancy. (AP Photo/Patrick Semansky, File) (Patrick Semansky)The Biden administration is warning pharmacies not to discriminate against women who may seek reproductive health prescriptions, including some that might be involved in ending a pregnancy. The Department of Health and Human Services said Wednesday that pharmacies receiving federal money from programs such as Medicare and Medicaid cannot discriminate in how they supply medications or advise patients on prescriptions. The announcement comes as the administration seeks to ensure reproductive health services for women following last month's Supreme Court decision that ended a constitutional right to abortion. “This includes access to prescription medications for reproductive health and other types of care.”The department's guidance to pharmacies outlined several hypothetical examples of potential discrimination.
wftv.comDems want to tax high earners to protect Medicare solvency
That would raise an estimated $203 billion over a decade, which Democrats say would be used to delay until 2031 a shortfall in the Medicare trust fund that pays for hospital care. Democrats are expected to unanimously back the Medicare solvency and prescription drug plans, one Democratic aide said. Its trust fund covering hospital services, called Part A, is financed largely from taxes deducted from peoples' paychecks. That trust fund gained two years of solvency, until 2028, in last month's report by the program's board of trustees. Without congressional action, Medicare's hospital trust fund would be able to pay only 90% of its costs in 2028 and less thereafter, the trustees said.
wftv.comGo-broke dates pushed back for Social Security, Medicare
A stronger-than-expected economic recovery from the pandemic has pushed back the go-broke dates for Social Security and Medicare, but officials warn that the current economic turbulence is putting additional pressures on the bedrock retirement programs.