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After six months of dealmaking, House Democratic leaders introduced a health-care reform bill Thursday that would expand coverage to almost all Americans and overhaul the insurance industry while asking the wealthiest taxpayers to pay much of the tab.
House Speaker Nancy Pelosi (Calif.) announced the 10-year $894 billion package on the Capitol steps, where she was surrounded by Democrats from all factions of her diverse caucus. "Leaders of all political parties, starting over a century ago with President Theodore Roosevelt, have called and fought for health-care reform and health-insurance reform," Pelosi said. "Today we are about to deliver on the promise."
The House bill is similar to its Senate counterpart, although a handful of key differences could make for protracted negotiations this year. For example, the House's surtax on those earning more than $500,000 a year is a non-starter in the Senate. And House Democrats oppose the Senate's main revenue measure, an excise tax on high-value, or "Cadillac," health-insurance plans. Both bills include a government insurance plan, but the Senate version would allow states to opt out of participating.
Under the House bill, 36 million uninsured Americans would become eligible for coverage. About 15 million of the poorest children and adults would enroll in Medicaid. An additional 21 million would purchase coverage on a new national insurance exchange, where private plans would compete with a "public option" backed by the federal government.
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Transcript of Pelosi's Announcement
Link to House Bill
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