Tuesday, October 13, 2009

Senate Finance Committee Passed Health Care Bill

As expected. "History calls," says Senator Snowe.

The Senate Finance Committee passed its health care "reform" bill today in 14-9 vote. Senator Olympia Snowe, Republican, voted with the Democrats. Now the bill has to be reconciled with the bill from the Senate Health Committee before the combined bill is presented on the Senate floor for voting.

If the Senate Democratic leaders decide to use the "reconciliation" procedure then all it takes is a simple majority, instead of 60. But if the vote is strictly along the party line and Ms. Snowe voting with Democrats, then they may already have 60 votes, enough to pass the bill. Since Democrats have the majority in the House, the health care "reform" bill will most likely be passed. (For more on "reconciliation", please see my post from September.)

The insurance industry's about-face, I suspect, will be perceived just like the bankers protest against the Glass-Owen bill (which later became the Federal Reserve Act) was perceived. "Oh look, the industry is protesting against it, therefore they fear their power will be diminished by the bill. Let's vote for it and curb the excessive power of the industry lobby." Something like that. (If the Federal Reserve Act is any indication, they will end up voting exactly what the insurance industry wants.)

Congressional Budget Office concedes that it cannot yet determine the full impact of the bill on the nation's health care cost; its staff "has not had time to evaluate its effects on privately insured people."

For more, please read the article linked below.

Senate committee approves health care plan
(10/13/09 AP via Yahoo News)


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