House and Senate Bills, H.R. 4173 and S. 3217, have each been passed and the two Congressional bodies are preparing for a conference committee to reconcile the differences in the two bills. The Senate conferees are, Sens. Dodd (D-Conn.), Chambliss (R- Ga.), Corker (R-Tenn.) Crapo (R-Idaho), Gregg (R-N.H.), Harkin (D-Iowa), Johnson (D-S.D.), Leahy (D-Vt.), Lincoln (D-Ark.), Reed (D-Nev.), Shelby (R-Ala.), and Schumer (D-N.Y.). The House is expected to announce their conferees this week and it is still undetermined if this will be an open or closed session.
Americans for Tax Reform (ATR) identified 12 major differences between the two bills that conferees must deliberate over.
H.R. 5444 - Private Option Health Care Act
Introduced May 27, 2010. This bill would which would completely repeal ObamaCare and replace it with free market solutions.
In sharp contrast to mandates and force, H.R. 5444 would:
- Provide all Americans with a tax credit for 100% of health care expenses. The tax credit is fully refundable against both income and payroll taxes;
- Allow individuals to roll over unused amounts in cafeteria plans and Flexible Savings Accounts (FSA);
- Provide a tax credit for premiums for high-deductible insurance policies connected with Health Savings Accounts (HSAs) and allow seniors to use funds in HSAs to pay for medigap policies;
- Repeal the 7.5% threshold for the deduction of medical expenses, thus making all medical expenses tax deductible;
- Guarantee individuals can purchase health insurance across state lines;
- Permit a tax credit for negative outcomes insurance purchased before medical treatment reducing expensive malpractice suits;
- Reduce barriers to importing FDA-approved prescription drugs.
Contact your Congress critter and tell him that you want him to cosponsor both H.R. 5444 and H.R. 4995!
