| 00:00:04 |
Baucus, Max - U.S. Senator, [D] Montana
THANK YOU. OK, BENJAMIN FRANKLIN SAID," WELL DONE IS BETTER THAN WELL SAID." NOW PRETTY MUCH EVERYTHING HAS BEEN SAID AND IT IS TIME TO GET THE JOB DONE....
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| 00:06:50 |
Grassley, Charles "Chuck" E. - U.S. Senator, [R] Iowa
A LONG TIME SINCE WE STARTED TALKING TO WHERE WE ARE NOW. DURING THE COMMITTEE MARKUP, WE HAVE BEEN ABLE TO AIR OUR DIFFERENCES AND HAVE THE VOTES AND...
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| 00:12:33 |
Baucus, Max - U.S. Senator, [D] Montana
I WOULD LIKE THE SENATOR TO LIMIT THEMSELVES TO 5 MINUTES. WE WILL KEEP THINGS MOVING HERE. I WILL RECOGNIZE AN ORDER OF APPEARANCE. NEXT IS SENATOR ROCKEFELLER....
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| 00:13:13 |
Rockefeller, John "Jay" D. IV - U.S. Senator, [D] West Virginia
THAT IS IMPRESSIVE. MANY PEOPLE WERE PART AROUND HERE BUT NOT AS HARD AS YOU DO. THIS IS A QUESTION ON PUBLIC OPTION FOR MR. ULLMAN DOOR AND MR. MILLER...
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| 00:15:28 |
Elmendorf, Douglas W. - Director
CONTAINMENT IN THE PRIVATE SECTOR? ARE THERE STEPS THAT PRIVATE INSURANCE COMPANIES -- HEALTH INSURANCE COMPANIES CAN VOLUNTARILY TAKE LIKE
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| 00:15:38 |
Rockefeller, John "Jay" D. IV - U.S. Senator, [D] West Virginia
REDUCING EXECUTIVE COMPENSATION, IMPROVING HEALTH
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| 00:15:40 |
Elmendorf, Douglas W. - Director
CARE
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| 00:15:41 |
Rockefeller, John "Jay" D. IV - U.S. Senator, [D] West Virginia
QUALITY, AND ATTAINING GREATER VALUE, REDUCING ADMINISTRATIVE OVERHEAD, GREATER BARGAINING FOR PRESCRIPTION DRUGS IN ORDER TO REDUCE THEIR COSTS AND...
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| 00:16:16 |
Elmendorf, Douglas W. - Director
THOSE@@ ECONOMISTS ARE NOT GOOD AT HAVING A CHOICE OR NOT HAVING A CHOICE LANGUAGE. WE BELIEVE THAT WHEN COSTS RISE, IT IS NOT ALWAYS TRUE 100% BUT IS...
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| 00:17:43 |
Rockefeller, John "Jay" D. IV - U.S. Senator, [D] West Virginia
AND SO, HOW WOULD THE RELATIONSHIP BETWEEN
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| 00:17:47 |
Miller, Mark E. - Executive Director
CONSOLIDATION AND RAISING PREMIUMS, THE CHOICE TO RAISE PREMIUMS, HOW WOULD THAT WORK? YOU COULD SAY BECAUSE PEOPLE CONSOLIDATE THEY MAY NOT NECESSARILY...
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| 00:18:05 |
Rockefeller, John "Jay" D. IV - U.S. Senator, [D] West Virginia
WAS PRESENTED IN OUR LAST COMMISSION MEETING BY DR. GAINER FROM CARNEGIE- MELLON, SUGGESTS THERE HAS BEEN A LOT OF PROVIDER CONSOLIDATION IN THE HOSPITAL-PHYSICIAN...
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| 00:18:25 |
Miller, Mark E. - Executive Director
GAIN ENOUGH MARKET POWER IN A GIVEN MARKET, THEY CAN EXTRACT HIGHER PRICES FROM THE INSURERS. >> I WILL WAIT FOR ANOTHER ROUND. >> THANK YOU VERY MUCH....
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| 00:18:56 |
Rockefeller, John "Jay" D. IV - U.S. Senator, [D] West Virginia
THE
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| 00:18:58 |
Baucus, Max - U.S. Senator, [D] Montana
PROUD HONOR OF REPRESENTING AMERICANS ACROSS
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| 00:19:01 |
Hatch, Orrin - U.S. Senator, [R] Utah
THIS GREAT NATION. I DELIVERED THESE REMARKS WITH A HEAVY HEART BECAUSE
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| 00:19:05 |
Baucus, Max - U.S. Senator, [D] Montana
WHAT COULD OF BEEN A STRONG
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| 00:19:06 |
Hatch, Orrin - U.S. Senator, [R] Utah
BUY PARTISAN VOTE IS NOW ENDING AS ANOTHER DIVIDED VOTE. WE TAKE ANOTHER STEP FORWARD TOWARD THE ISOLATION OF REFORMING 1/6 OF OUR ECONOMY. SOME OF US...
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| 00:24:49 |
Baucus, Max - U.S. Senator, [D] Montana
BILLION IN NEW TAXES. $4 BILLION IN NEW TAXES ON AMERICANS WHO FAILED
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| 00:25:01 |
Hatch, Orrin - U.S. Senator, [R] Utah
TO BUY A WASHINGTON-DEFINED LEVEL OF COVERAGE. $322 BILLION
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| 00:25:06 |
Hatch, Orrin - U.S. Senator, [R] Utah
ON NEW TAXES FROM INSURANCE PREMIUMS TO PRESCRIPTION DRUGS. REPRESENTATIVES FROM THE CONGRESSIONAL BUDGET OFFICE ON THE JOINT COMMITTEE ON TAXATION TESTIFIED...
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| 00:26:19 |
Baucus, Max - U.S. Senator, [D] Montana
EFFORT TO ADDRESS THE POLICY CONCERNS OF THE NATION OR TO MAKE A MORE
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| 00:26:26 |
Conrad, Kent - U.S. Senator, [D] North Dakota
DETERMINED EFFORT TO BE FULLY BIPARTISAN IN THE DELIBERATIONS. I THING MEMBERS ON BOTH SIDES OF THE OF I'L WOULD HAVE AISLE WOULD HAVE TO SAY YOU HAVE...
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| 00:31:31 |
Baucus, Max - U.S. Senator, [D] Montana
OF QUESTION WHEN IT COMES TO PROVIDING HEALTH SECURITY FOR ALL AMERICANS. .
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| 00:31:36 |
Snowe, Olympia J. - U.S. Senator, [R] Maine
BECAUSE I THINK THERE ARE IMPORTANT. THIS WILL NOT BE THE FINAL BILL, AS YOU KNOW. IT WILL BE MERGED WITH THE HELP BUILD. AFTER THIS BILL IS REPORTED...
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| 00:33:31 |
Elmendorf, Douglas W. - Director
WE HAVE SEEN SO FAR. IT IS ALSO THE CASE THAT RIDING OUT EXACTLY WHAT IS TO HAPPEN WITH LEGISLATIVE LANGUAGE, IT OFTEN TURNS OUT THAT OUR UNDERSTANDING...
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| 00:35:06 |
Snowe, Olympia J. - U.S. Senator, [R] Maine
THE LANGUAGE INVOLVED. >> I HOPE THERE WOULD BE CONSISTENCY IN THAT REGARD SO THERE ISN'T A DEPARTURE FROM THE INTENT AND INTEGRITY OF THE CBO SCORES....
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| 00:35:20 |
Elmendorf, Douglas W. - Director
IMPORTANT. WE WILL HAVE TO BE VIGILANT IN THAT REGARD. >>x THERE ARE SEVERAL STAGES THERE.
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| 00:35:29 |
Snowe, Olympia J. - U.S. Senator, [R] Maine
ONE IS THE SO-CALLED MERGED BILL PER THAT HAS TO BE SCORED BEFORE WE GO FORWARD. AFTERWARDS, THE BILL WILL PASS THE SENATE. WE HAVE TO MAKE SURE THE...
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| 00:35:45 |
Baucus, Max - U.S. Senator, [D] Montana
ACTUAL LANGUAGE SO SCORE REFLECTS THE INTENT. THIS IS VERY IMPORTANT, THE POINT YOU'RE MAKING, TO KEEP IT TRANSPARENT IN ALL THIS. AS WE ALL KNOW, OFTEN,...
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| 00:36:43 |
Snowe, Olympia J. - U.S. Senator, [R] Maine
WAY YOU OPERATE BETWEEN DEMOCRATS AND REPUBLICANS.
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| 00:36:48 |
Baucus, Max - U.S. Senator, [D] Montana
I HOPE THAT WE CAN GET THIS PACKAGE PASSED OUT OF THE
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| 00:36:53 |
Bingaman, Jeff - U.S. Senator, [D] New Mexico
COMMITTEE AND CONSIDERED ON THE SENATE FLOOR AND MOVE AHEAD. I WANTED TO ASK DR. ELMENDORF AND MR. BARTHOOLD ONE ASPECT OF THE BILL. A MAJOR PURCHASE...
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| 00:38:14 |
Elmendorf, Douglas W. - Director
YEAR. IN TERMS OF THE EFFECTS OF NATIONAL HEALTH EXPENDITURES, THERE ARE CONFLICTING FORCES. THE EXPANSION OF INSURANCE TO A LARGER SHARE OF THE POPULATION...
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| 00:39:29 |
Bingaman, Jeff - U.S. Senator, [D] New Mexico
INCENTIVE FOR INDIVIDUALS AND EMPLOYERS TO LOOK TO MAKE SMARTER CHOICES OR DIFFERENT CHOICES TO
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| 00:39:38 |
Barthold, Thomas - Economist
THE EXTENT THAT SMART CHOICES WOULD DAMPEN FUTURE HEALTH SPENDING. THAT WOULD BE A FACTOR IN THAT DIRECTION. >> IS IT FAIR TO SAY THAT YOU ARE ASSUMING...
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| 00:40:09 |
Bingaman, Jeff - U.S. Senator, [D] New Mexico
THE REVENUE ESTIMATE THAT WE PROVIDED FOR THIS PROVISION ASSUMES A LOT OF BEHAVIORAL CHANGE. IN FACT, IT ASSUMES THAT MANY
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| 00:40:22 |
Barthold, Thomas - Economist
EMPLOYEES AND EMPLOYERS OFFERING PLANS WOULD OTHERWISE SEE THE PLANS SUBJECT TO THE EXCISE TAX AND WILL RECONFIGURE THEIR PLANS AND THEIR COMPENSATION....
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| 00:41:11 |
Bingaman, Jeff - U.S. Senator, [D] New Mexico
TRY TO TAKE IN THE ACCOUNT OF BEHAVIOR RESPONSE IN EVERY ESTIMATEYTHAT THE COMMITTEE STEP DOES FOR THE COMMITTEE AND FOUR MEMBERS. WE THINK IS A CRITICAL...
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| 00:41:32 |
Barthold, Thomas - Economist
BR? MY IMPRESSION IS THAT THEY DID NOT SOON BE APRIL CHANGE WHICH IS LIKELY TO BE A SIGNIFICANT FACTOR, ACCORDING TO YOU. IS THAT YOUR UNDERSTANDING?...
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| 00:41:46 |
Bingaman, Jeff - U.S. Senator, [D] New Mexico
WITH THE REPORTER IT WAS BUSY YESTERDAY DOING WORK FOR THE COMMITTEE AND SOME OF THE MEMBERS DID NOT GET AN OPPORTUNITY TO READ IT THOROUGHLY. SOME OF...
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| 00:42:18 |
Bingaman, Jeff - U.S. Senator, [D] New Mexico
CIRCULATED THREE DAYS AFTER THE COMMITTEE FINISHED ITS WORK.
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| 00:42:21 |
Baucus, Max - U.S. Senator, [D] Montana
THE DOCUMENT INCLUDES A REQUIREMENT THAT THE INDIVIDUAL MANDATE EXCISE TAX, THE PENALTY THAT AMERICANS PAY IF THEY DO NOT BUY THE INSURANCE POLICY AMENDED...
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| 00:42:36 |
Kyl, Jon - U.S. Senator, [R] Arizona
BY 2013 TO REFLECT THE FLU -- A FACT OF INFLATION. IS THAT CORRECT? >> I AM LOOKING TO MAKE SURE I'M READING THE RIGHT PART. >> IT IS UNDER CLARIFICATIONS,...
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| 00:43:05 |
Elmendorf, Douglas W. - Director
AT A FASTER RATE. IT IS
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| 00:43:08 |
Kyl, Jon - U.S. Senator, [R] Arizona
THE SAME NUMBER AS THE INCOME CAPS. >>
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| 00:43:15 |
Elmendorf, Douglas W. - Director
THAT LATTER PROVISION MEANS THAT YOUR PEOPLE OVER TIME WOULD REQUIRE FROM THE EXEMPTION OF
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| 00:43:19 |
Kyl, Jon - U.S. Senator, [R] Arizona
THE MANDATE DUE TO NOT HAVING ACCESS TO A PORTABLE PLAN? >> --
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| 00:43:24 |
Elmendorf, Douglas W. - Director
AND AFFORDABLE PLAN? THERE ARE OTHER CORRECTIONS THAT ARE SIMILAR, IS THAT CORRECT? >> YES,
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| 00:43:36 |
Kyl, Jon - U.S. Senator, [R] Arizona
SENATOR. >> DOES THE COST OF -- ESTIMATES ASSUME THESE ARE PART OF THE MARK BEFORE THE COMMITTEE? >> YES, SENATOR. >> TO
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| 00:43:47 |
Kyl, Jon - U.S. Senator, [R] Arizona
THESE CHANGES HAVE SCORING IMPLICATIONS? >> YES, THEY DO. >> GET THE CHANGES THAT THE CBO ASSUMED TO BE PART OF THE BILL ARE NOT ACTUALLY IN THE
|
| 00:43:56 |
Elmendorf, Douglas W. - Director
BILL IF WE ADOPTED TODAY, THEN THAT WOULD AFFECT THE SCORE
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| 00:44:00 |
Kyl, Jon - U.S. Senator, [R] Arizona
OF THE BILL, IS THAT CORRECT? >> YES, SENATOR. WE ARE NOT
|
| 00:44:04 |
Elmendorf, Douglas W. - Director
TRYING
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| 00:44:08 |
Kyl, Jon - U.S. Senator, [R] Arizona
TO MAKE UP IN THE BILL.
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| 00:44:10 |
Elmendorf, Douglas W. - Director
WE'RE TRYING NOT TO DO
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| 00:44:12 |
Kyl, Jon - U.S. Senator, [R] Arizona
THAT. WE WANT A WELL-DEFINED BILL THAT WE CAN SCORE. WE COMMUNICATED TO THAT ON BOTH SIDES OF THE AISLE. THERE
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| 00:44:23 |
Elmendorf, Douglas W. - Director
WAS THE ORIGINAL RED LINE VERSION LAST FRIDAY AND THEN THE SENATE VERSION AND ANY CLARIFICATIONS WE LEARNED FROM THE STEP WHICH WE LISTED IN OUR LETTER....
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| 00:45:01 |
Kyl, Jon - U.S. Senator, [R] Arizona
THE STAFF PROVIDED THOSE TO US, C AND IT COULD AFFECT, FOR EXAMPLE, AS PART OF YOUR ESTIMATES, THE PERCENTAGE OF AMERICANS THAT WOULD BE INSURED BY,...
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| 00:45:23 |
Kyl, Jon - U.S. Senator, [R] Arizona
SO-CALLED TECHNICAL CORRECTIONS DOCUMENT ARE SUBSTANTIVE CHANGES. THEY WERE NOT ADOPTED BY THE COMMITTEE. THEY WERE WRITTEN BY THE STAFF AND PROVIDED...
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| 00:45:39 |
Elmendorf, Douglas W. - Director
CBO ASSUMES THEY HAVE BEEN ADOPTED BY THE COMMITTEE,
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| 00:45:42 |
Kyl, Jon - U.S. Senator, [R] Arizona
BUT SINCE THEY HAVE NOT ADOPTED IT, THE CBO SCORED DOES NOT REFLECT THE BILL THAT WE ARE ABOUT TO VOTE ON. UNTIL THE COMMITTEE DEBATES THESE CHANGES AND...
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| 00:47:32 |
Baucus, Max - U.S. Senator, [D] Montana
ALL LEGISLATION AND WHEN THE LEGISLATION IS WRITTEN, IN MUTUAL OBSERVER IS THE CBO, IN THIS CASE. THEY LOOK AT IT AND SENT AS A NOTE BACK FOR QUESTIONS...
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| 00:48:51 |
Elmendorf, Douglas W. - Director
COMMITTEE STAFF. I'M NOT IN A POSITION TO JUDGE WHETHER THIS PARTICULAR ASPECT OF INDEXING WAS OR WAS NOT WHAT YOU AND OTHER MEMBERS OF THE COMMITTEE...
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| 00:49:22 |
Baucus, Max - U.S. Senator, [D] Montana
YOU ARE -- WHEN YOU CONDUCTED THE ANALYSIS? >> WE ASSUMED THE TECHNICAL CORRECTION WAS IN PLACE WHEN WE LOOKED AT IT LAST WEDNESDAY. WHETHER THIS WAS...
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| 00:50:12 |
Elmendorf, Douglas W. - Director
BASED ON OUR MEMORY OF WHAT WAS SAID TO US AT SOME POINT IN THE PROCESS. >> THESE ARE CLARIFICATIONS MADE IN GOOD FAITH. THERE IS NO INTENTION TO DO ANYTHING...
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| 00:50:41 |
Baucus, Max - U.S. Senator, [D] Montana
MR. CHAIRMAN, LET ME MAKE THE POINT THAT DIRECTOR ELMENDORF HAS SAID. >> YOUR TIME HAS EXPIRED. >> YOU JUST TO THREE MINUTES TO RESPOND. >> THAT WAS THE...
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| 00:51:03 |
Kyl, Jon - U.S. Senator, [R] Arizona
INDEXING. THE STAFF GAVE HIM A TECHNICAL CORRECTIONS DOCUMENT, BUT
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| 00:51:07 |
Baucus, Max - U.S. Senator, [D] Montana
THE COMMITTEE HAS NEVER ADOPTED THIS AMENDMENT. INDEXING IS NOT JUST
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| 00:51:10 |
Kyl, Jon - U.S. Senator, [R] Arizona
A MINOR MATTER. IT WILL HAVE PROFOUND
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| 00:51:13 |
Baucus, Max - U.S. Senator, [D] Montana
IMPLICATIONS. THE INDEXING OF THIS CASE RELATES
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| 00:51:16 |
Kyl, Jon - U.S. Senator, [R] Arizona
TO THE FINE PEOPLE WILL HAVE TO PAY IF THEY DON'T PURCHASE INSURANCE. IF IT IS INDEXED, THEN THE AMOUNT OF THE FINE WILL REMAIN THE SAME, RELATIVE TO...
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| 00:52:43 |
Baucus, Max - U.S. Senator, [D] Montana
WORKING WITH US TO DEAL WITH THEM. I APPRECIATE YOU WORKING WITH US ON AN ONGOING
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| 00:52:48 |
Kerry, John F. - U.S. Senator, [D] Massachusetts
BASES,
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| 00:52:50 |
Baucus, Max - U.S. Senator, [D] Montana
PARTICULARLY ON THE CADILLAC PLANS, AS WELL AS
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| 00:52:55 |
Kerry, John F. - U.S. Senator, [D] Massachusetts
ON THE MEDICAL DEVICES COMPONENT. I AM PARTICULARLY CONCERNED STILL ABOUT THE LACK OF EMPLOYER MANDATE. IF IT DOES NOT BECOME PART OF THE BILL, TO DEAL...
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| 00:57:19 |
Baucus, Max - U.S. Senator, [D] Montana
NEED A PLAN THAT IS BASED ON PREMIUMS,
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| 00:57:22 |
Kerry, John F. - U.S. Senator, [D] Massachusetts
THAT OPERATES BY ALL THE RULES OF THE PRIVATE-SECTOR, THAT IS NOT SUBSIDIZED, AS A MATTER OF ADMINISTRATIVE COST, ADDITION, THERE IS YOUR ARGUMENT. THAT...
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| 00:58:30 |
Baucus, Max - U.S. Senator, [D] Montana
ANSWER. IF THIS BILL WAS THE ANSWER, THERE WOULD BE NO NEED FOR A STUNNING LACK OF TRANSPARENCY THAT HAS
|
| 00:58:39 |
Bunning, Jim - U.S. Senator, [R] Kentucky
SURROUNDED IT. BUT THE FACT IS THAT SUNSHINE ON A REVEALED ITS DEEP FLAWS. FIRST, UNDER THIS BILL, 25 MILLION PEOPLE WILL REMAIN UNINSURED. THAT IS HARDLY...
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| 01:05:04 |
Baucus, Max - U.S. Senator, [D] Montana
CRAFTED THAT WAY, AS WELL AS CBO AND THEY CONCLUDED SIMPLY COULD NOT CERTIFY IT. THERE WAS NOT DATA TO CORPORATE IT CANNOT BE DONE ONE WAY OR THE CONGRESSIONAL...
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| 01:06:07 |
Bunning, Jim - U.S. Senator, [R] Kentucky
HAS NO POSITION ABOUT THE WAY THE AMENDMENT SHOULD BE DRAFTED OR NOT. IT IS THE CASE THAT WHEN WE LOOK FOR TRIGGERS OR FAIL-SAFE,
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| 01:06:16 |
Baucus, Max - U.S. Senator, [D] Montana
WE LOOKED HARD AT WHETHER THERE ARE MEASURABLE CRITERIA. I WANTED TO MAKE THE CLEARVIEW WERE NOT AGAINST YOUR AMENDMENT, NOR DID WE ADVOCATE IT. THAT...
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| 01:06:29 |
Elmendorf, Douglas W. - Director
I WILL USE THIS ROUND TO ASK QUESTIONS OF CBO AND JOINT TAX AND RESERVE MY FINAL COMMENT. I WOULD LIKE TO FOCUS FIRST ON DR. ELMENDORF AND MR. BALL TOLD...
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| 01:06:48 |
Bunning, Jim - U.S. Senator, [R] Kentucky
MR.
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| 01:06:51 |
Crapo, Michael "Mike" - U.S. Senator, [R] Idaho
BARTHOLD. MY CONSTITUENTS TO ABOUT THE FACT THAT THE SKYROCKETING COST OF INSURANCE AND OTHER HEALTH- CARE COSTS HAVE TO BE BROUGHT UNDER CONTROL. AS...
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| 01:07:25 |
Elmendorf, Douglas W. - Director
THE EFFECT ON THE NATIONAL BUDGET IN THE 10-YEAR WINDOW OR BEYOND. >> THOSE WHO SAY THE BILL BENZ THE COST CURVE, THEY MUST BE TALKING ABOUT THE BIGGLES....
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| 01:07:53 |
Crapo, Michael "Mike" - U.S. Senator, [R] Idaho
CAN ABOUT THINGS. >> YOU HAVE MADE NO STATEMENT OR ISSUE ANY CONCLUSIONS ABOUT THE IMPACT ON A NATIONAL HEALTH CARE COST PER? >> THAT IS RIGHT. >> WHEN...
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| 01:08:09 |
Elmendorf, Douglas W. - Director
OF RECALL WHETHER THIS WAS NEW OR THE OTHER GENTLEMEN, BUT YOU INDICATED THAT ALTHOUGH YOU HAVE
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| 01:08:16 |
Crapo, Michael "Mike" - U.S. Senator, [R] Idaho
NOT SCORED IT AND DON'T HAVE SPECIFIC NUMBERS, BUT THE OVERALL IMPACT OF THIS BILL ON THE COST OF HEALTH
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| 01:08:22 |
Elmendorf, Douglas W. - Director
CARE INSURANCE WILL BE TO DRIVE THE COST OF THAT INSURANCE UP, CORRECT? >>
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| 01:08:26 |
Crapo, Michael "Mike" - U.S. Senator, [R] Idaho
THAT IS NOT THE CONCLUSION OF OUR SPIRIT WHAT WE SAID IN A SEPARATE LETTER SENT TO SENATOR BAUCUS TWO WEEKS AGO WAS A VARIETY OF FORCES WORKING ON AFFECTING...
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| 01:08:48 |
Elmendorf, Douglas W. - Director
SOURCES, WE HAVE NOT BEEN ABLE TO ASSESS THE NET IMPACT ON PREMIUMS. I UNDERSTAND THAT OUR INABILITY TO DO THAT IS UNFORTUNATE FROM THE COMMITTEE'S PERSPECTIVE...
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| 01:09:32 |
Crapo, Michael "Mike" - U.S. Senator, [R] Idaho
MARK AND A HIGH PREMIUM EXCISE
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| 01:09:36 |
Barthold, Thomas - Economist
TAX. >> THANK YOU. I WANT TO KEEP GOING BECAUSE OF TIME. I'M SORRY. LET'S GO BACK TO THE FEDERAL TREASURY AND THAT WHICH THE CBO HAS SCORED. THERE IS...
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| 01:09:56 |
Crapo, Michael "Mike" - U.S. Senator, [R] Idaho
CORRECT. IT INCREASES AND DECREASES IN BOTH TAXES AND SPENDING. LET'S LOOK AT THE SPENDING SIDE. IS IT FAIR TO SAY THAT THIS MARK WILL INCREASE FEDERAL...
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| 01:10:16 |
Elmendorf, Douglas W. - Director
SENATOR, THAT IS CORRECT. IN THE ANNOUNCEMENTS WITH THE JOINT TAX COMMITTEE, WE HAVE NOT BROKEN OUT DEFECTS IN THE TRADITIONAL WAY OF THE SPENDING SIDE...
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| 01:10:36 |
Elmendorf, Douglas W. - Director
COST ESTIMATE WITH MORE. >> EVEN THOSE WANTING TO TALK ABOUT THE COST CURVES IN THE CONTEXT OF JUST THE IMPACT ON THE FEDERAL TREASURY, WOULD IT NOT...
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| 01:10:59 |
Crapo, Michael "Mike" - U.S. Senator, [R] Idaho
I THINK SO, SENATOR. I WANT TO BE CAREFUL. WE REPORTED IN OUR LETTER THAT MEDICAID AND CHIP WOULD BE UP OVER THE 10 YEARS. THEN THERE'S $461 BILLION...
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| 01:11:20 |
Elmendorf, Douglas W. - Director
INCREASES IN SPENDING BECAUSE THERE WOULD BE REFUNDED PARTS OF TAX CREDITS. WE HAVE NOT BROKEN THAT OUT. >> I'M NOT ASKING YOU TO BREAK OUT POSITIVE...
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| 01:11:47 |
Crapo, Michael "Mike" - U.S. Senator, [R] Idaho
BILLION FOR MEDICAID AND CHIP. THERE'S ALSO REDUCE SPENDING IN MEDICARE MOSELEY. THE REDUCED MEDICARE OUTLAYS IS A REDUCTION IN THE FEDERAL SPENDING....
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| 01:12:05 |
Elmendorf, Douglas W. - Director
OF NET. WHEN YOU GET OUT EVERYTHING ON THE SPENDING SIDE -- HUNDREDS OF BILLIONS OF DOLLARS OF INCREASES ON THE SPENDING SIDE? >> WE HAVE NOT DONE THAT...
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| 01:12:21 |
Crapo, Michael "Mike" - U.S. Senator, [R] Idaho
IN MEDICAID SPENDING. THAT WOULD BE OFFSET. I GUESS THERE WOULD BE ENOUGH EXTRA
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| 01:12:37 |
Elmendorf, Douglas W. - Director
SPENDING THAT THERE WOULD BE IN A SPENDING INCREASE. WE JUST HAVE NOT DONE A BREAKDOWN. >> MY TIME IS UP. I WILL COME BACK IN THE NEXT ROUND. IT IS...
|
| 01:13:03 |
Crapo, Michael "Mike" - U.S. Senator, [R] Idaho
MY WHOLE STATEMENT TO THE RECORD. IT IS MY INTENT TO ASK DR. ELMENDORF SEVERAL
|
| 01:13:12 |
Baucus, Max - U.S. Senator, [D] Montana
QUESTIONS AND ASK UNANIMOUS CONSENT HE BE AWARDED TWO PURPLE HEARTS AND A MEDAL OF VALOR. >> THANK YOU.
|
| 01:13:20 |
Roberts, Pat - U.S. Senator, [R] Kansas
IT'S A TEAM OF PEOPLE AT CBO IS SERVING THOSE AWARDS, NOT ME. >> I SEE. THAT IS EXACTLY WHY WE ARE REPORTING THIS TO YOU. HUMILITY IS A GOOD THING. MR....
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| 01:13:39 |
Elmendorf, Douglas W. - Director
AS A MODERATE ALTERNATIVE TO THE HEHOUSE
|
| 01:13:45 |
Roberts, Pat - U.S. Senator, [R] Kansas
BILL. I DO HAVE NEWS. THE SO-CALLED MODERATE HEALTH- CARE REFORM BILL WILL NOT BE THE BILL WE WILL SEE IN THE NEXT THREE WEEKS THAT WILL COME TO THE...
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| 01:16:45 |
Baucus, Max - U.S. Senator, [D] Montana
DAY, AND YOU LOSE. IF YOU LIKE YOUR HEALTH-CARE PLAN AND YOUR
|
| 01:16:49 |
Ensign, John - U.S. Senator, [R] Nevada
DOCTOR, BUT YOU ARE CONCERNED ABOUT RISING EXPENSES, YOU LOSE. IF YOU RELY ON A FLEXIBLE SPENDING ACCOUNT TO FILL IN THE GAP IN YOUR COVERAGE, YOU LOSE....
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| 01:25:04 |
Baucus, Max - U.S. Senator, [D] Montana
HAMMERED WITH THINGS LIKE PRE- EXISTING CONDITIONS AND THANK YOU ALSO FOR REACHING OUT TO ME ON THE WEEKEND FOR FURTHER DISCUSSIONS ON ISSUES
|
| 01:25:12 |
Wyden, Ronald "Ron" Lee - U.S. Senator, [D] Oregon
I FEEL STRONGLY ABOUT LIKE HOLDING INSURANCE COMPANIES ACCOUNTABLE THROUGH MORE CHOICE AND COMPETITION. WE WILL TALK MORE ABOUT THAT IN A FEW MINUTES....
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| 01:25:43 |
Baucus, Max - U.S. Senator, [D] Montana
AFFORDABILITY. I HAVE ALWAYS FELT CONSUMER CHOICE IS HOW YOU HOLD INSURANCE COMPANIES ACCOUNTABLE AND
|
| 01:25:50 |
Wyden, Ronald "Ron" Lee - U.S. Senator, [D] Oregon
THAT HOW YOU MAKE THE SYSTEM MORE COMPETITIVE. I WANT TO ASK YOU FIRST ABOUT YOUR CHART IN THE LETTER YOU SENT TO THE GERMAN ON OCTOBER 7 ON "SOURCES...
|
| 01:26:57 |
Elmendorf, Douglas W. - Director
HAVE HAD VERY CONSTRUCTIVE CONVERSATION AND THE WEEKEND. THE OTHER QUESTION DEALS WITH AFFORDABILITY. WE ALL UNDERSTAND THAT THERE ARE THREE LEGS TO...
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| 01:27:13 |
Wyden, Ronald "Ron" Lee - U.S. Senator, [D] Oregon
CONTAINING COSTS, MAKING COVERAGE MORE AFFORDABLE, AND PROMOTING CHOICE, MAKING THE SYSTEM MORE COMPETITIVE. WE CLEARLY HAVE MORE TO DO IN THE AREA OF...
|
| 01:29:21 |
Elmendorf, Douglas W. - Director
NOT TO DO THAT COMPARED WITH HIGHER INCOME BRACKETS WHERE THEY WOULD NOT BE GETTING A SUBSIDY. WE CAN PROBABLY TRY TO DEVELOP THE DETAILS ABOUT THE DISTRIBUTION...
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| 01:29:54 |
Wyden, Ronald "Ron" Lee - U.S. Senator, [D] Oregon
I SAY, THE CHAIRMAN HAS SAID THE NUMBER OF PRODUCTIVE CONVERSATIONS WITH ME OVER THE WEEKEND, AND WE WILL LOOK FOR WAYS TO DO THAT IN THE SECOND ROUND....
|
| 01:30:27 |
Elmendorf, Douglas W. - Director
PEOPLE BEING TAKEN TO THE EXCHANGES. >> THANK YOU. SENATOR. >> THANK YOU, MR. CHAIRMAN. I DO WANT TO THANK YOU FOR ALL OF THE WORK THAT YOU HAVE DONE...
|
| 01:30:53 |
Baucus, Max - U.S. Senator, [D] Montana
THAT, A VERY ACTIVE ROLE IN GETTING
|
| 01:30:56 |
Enzi, Michael "Mike" B. - U.S. Senator, [R] Wyoming
PEOPLE TOGETHER AT THAT POINT. I STILL HAVE A LOT OF PEOPLE FROM MY STATE THAT ARE GETTING A HOLD OF ME AND TALKING ABOUT HEALTH-CARE REFORM. EVERYBODY...
|
| 01:35:07 |
Enzi, Michael "Mike" B. - U.S. Senator, [R] Wyoming
THAT IS
|
| 01:35:08 |
Elmendorf, Douglas W. - Director
MAKING IT DIFFICULT TO ANALYZE IN THAT THE PROPOSAL
|
| 01:35:12 |
Enzi, Michael "Mike" B. - U.S. Senator, [R] Wyoming
IN THE CHAIRMAN'S MARK IS RESTRICTED TO DRUGS THAT ARE RELATED TO FEDERAL PROGRAMS. THAT
|
| 01:35:20 |
Barthold, Thomas - Economist
MAKES IT NOT PURELY COMPETITIVE MARKET ANALYSIS AND IT IS HARDER TO SAY. IN OUR ANALYSIS FOR PURPOSES OF CREATING REVENUE ESTIMATES, WE DID ASSUME THERE...
|
| 01:35:59 |
Enzi, Michael "Mike" B. - U.S. Senator, [R] Wyoming
FEE OR DO YOU MEAN THE HIGH PREMIUM EXCISE TAX? >> BAHAI PREMIUM EXCISE TAX. BUT A HIGH PREMIUM EXCISE TAX, WE EXPECT
|
| 01:36:08 |
Barthold, Thomas - Economist
THERE TO BE A NUMBER OF EFFECTS ON CONSUMERS. WE EXPECTED TO CREATE AN INCENTIVE FOR A NUMBER OF EMPLOYERS ON BEHALF OF EMPLOYEES. EMPLOYEES DEMANDING...
|
| 01:36:26 |
Barthold, Thomas - Economist
INCLUSIONS AS COMPENSATION EXCHANGES. IN THAT SENSE, THE CONSUMER IS BEARING PART OF THAT BURDEN OF THE TAX. ALTHOUGH IT IS NOT NECESSARILY REFLECTED...
|
| 01:37:18 |
Enzi, Michael "Mike" B. - U.S. Senator, [R] Wyoming
CARE
|
| 01:37:19 |
Baucus, Max - U.S. Senator, [D] Montana
INSURANCE PREMIUMS, PAY FOR THE PEOPLE WHO ARE
|
| 01:37:25 |
Baucus, Max - U.S. Senator, [D] Montana
UNINSURED PAY FOR THE PEOPLE UNINSURED
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| 01:37:27 |
Nelson, Bill - U.S. Senator, [D] Florida
AND GOING TO THE EMERGENCY ROOM AND GETTING FREE CARE, WHICH THAT COST IS PASSED BACK ON US. ISN'T IT SOMETHING ON A NATIONAL AVERAGE AROUND -- FOR FAMILY...
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| 01:38:05 |
Elmendorf, Douglas W. - Director
OTHERS. OR IF OTHER PEOPLE'S COSTS ARE HIGHER AS A RESULT. >> I HAVE SEEN THAT NUMBER OVER AND OVER ON THE NATIONAL AVERAGE OF ABOUT $1,000. COMMON SENSE...
|
| 01:38:31 |
Nelson, Bill - U.S. Senator, [D] Florida
DISEASE HAS TURNED INTO AN EMERGENCY AND THOSE COSTS ARE IMPORTANT TO THE SYSTEM, THEN IT IS THE REST OF US THAT PAY. THE FIGURE THAT I HAVE SEEN OVER...
|
| 01:40:40 |
Miller, Mark E. - Executive Director
ISSUES OF COST INCREASES AMONG PROVIDERS. OUR CONCERN IS THOSE COST INCREASES HAVE BEEN GOING MUST FASTER THAN MIGHT BE EXPECTED, GIVEN THEIR INPUT COSTS....
|
| 01:42:43 |
Nelson, Bill - U.S. Senator, [D] Florida
YEARS. THE INSURANCE COMPANIES WANT TO MAKE A PROFIT. UNDERSTANDABLY. BUT IN DOING SO IT, THEY WANT TO CHERRY PICKED THE LEAST RISK, THE HEALTHY PEOPLE....
|
| 01:43:52 |
Baucus, Max - U.S. Senator, [D] Montana
DOMESTIC PRODUCT ON HEALTH CARE AS A RESULT OF THIS BILL? >> WE HAVE NOT FORMED AN ESTIMATE TO ANSWER THAT. I DON'T KNOW. >> YOU NOT BEEN ASKED OR YOU...
|
| 01:44:06 |
Cornyn, John - U.S. Senator, [R] Texas
ANSWER YET? >> MANY PEOPLE ARE CURIOUS, CERTAINLY. INCLUDING OURSELVES, BUT WE HAVE NOT HAD AN OPPORTUNITY TO DEVELOP AN ANSWER TO THAT QUESTION. >> I...
|
| 01:44:19 |
Elmendorf, Douglas W. - Director
OF THE DISCUSSION ABOUT THE PRICEWATERHOUSECOOPERS STUDY THAT WAS RELEASED
|
| 01:44:24 |
Cornyn, John - U.S. Senator, [R] Texas
AND WHICH HAS BEEN CRITICIZED BECAUSE IT WAS PAID FOR BY THE INSURANCE INDUSTRY.
|
| 01:44:28 |
Elmendorf, Douglas W. - Director
BUT JUST TO ASK YOU THIS, DR. ELMENDORF, CBO HAS IN THE PAST SCORED
|
| 01:44:38 |
Cornyn, John - U.S. Senator, [R] Texas
LEGISLATION RELATING TO PREMIUMS INCREASED IMPACT. >> YESC. >BO IS COMPETENT -- CBO IS COMPETENT AND QUALIFIED TO LOOK AT THE PRICE WATERHOUSE COOPERS...
|
| 01:45:06 |
Elmendorf, Douglas W. - Director
GIVEN AN OPPORTUNITY, TO DO THE REVIEW? >> YES, I IF IT IS AN IMPORTANT QUESTION. I APPRECIATE YOUR ANSWER. I HOPE I CAN GET THAT INFORMATION FROM YOU...
|
| 01:45:31 |
Elmendorf, Douglas W. - Director
CONSUMERS FOR HEALTH INSURANCE COVERAGE. IT COULD BE A COOL OUTCOME INDEED IF WE UNINTENTIONALLY INCREASED THEIR HEALTH INSURANCE COSTS. OF A LIKE TO...
|
| 01:47:07 |
Elmendorf, Douglas W. - Director
LESS CLEAR. IN GENERAL, AN EFFORT TO HAVE EVERYBODY PAY THE SAME PRICE FOR INSURANCE WILL TEND TO RAISE PREMIUMS FOR PEOPLE WHO ARE HEALTHY AND HAVE...
|
| 01:48:01 |
Cornyn, John - U.S. Senator, [R] Texas
THAT HAVE TRIED. LIKE THE INDIVIDUAL MANDATE THAT MASSACHUSETTS HAS, FOR EXAMPLE? AN ACADEMIC MODEL PERHAPS? >> YES, WE TAKE THESE REAL- WORLD EXPERIENCE...
|
| 01:48:33 |
Elmendorf, Douglas W. - Director
IN THE ARTICLE I REFERRED TO, THAT WILL BE INCLUDED IN MY RECORD. THAT WILL BE AVAILABLE PARADIGM ADVISED BY MY STAFF THAT THE COMMITTEE -- ONCE THE COMMITTEE...
|
| 01:48:55 |
Cornyn, John - U.S. Senator, [R] Texas
THE COMMITTEE WILL PROVIDE AS PART OF ITS PRODUCTS, CORRECT? >> THAT CORRECT. WILL THAT REPORT LANGUAGE INCLUDE LEGISLATIVE LANGUAGE? >> THAT IS CORRECT....
|
| 01:49:20 |
Cornyn, John - U.S. Senator, [R] Texas
|
| 01:49:28 |
Menendez, Robert "Bob" - U.S. Senator, [D] New Jersey
I KNOW HOW HARD YOU'VE MADE THIS A FAIR PROCEEDING AS EACH OF US MUST WEIGH IN IN THE REGARD IN OUR ABILITY. -- IN OUR ABILITY TO ACT AND ACT WISELY....
|
| 01:56:05 |
Baucus, Max - U.S. Senator, [D] Montana
INTEREST OF ACCURACY, IT'S
|
| 01:56:07 |
Carper, Thomas "Tom" R. - U.S. Senator, [D] Delaware
61 HOURS. >> SORRY. >> IT FELT LIKE MANY, MANY MORE. >> I'M SURE IT DID. I WANT TO ESPECIALLY THANK OUR FINANCE COMMITTEE STAFF, DEMOCRAT AND REPUBLICAN,...
|
| 01:56:26 |
Baucus, Max - U.S. Senator, [D] Montana
TO GIVE US THE BENEFIT OF THEIR INPUT. I BELIEVE WITH
|
| 01:56:29 |
Carper, Thomas "Tom" R. - U.S. Senator, [D] Delaware
THE PASSAGE
|
| 01:56:31 |
Baucus, Max - U.S. Senator, [D] Montana
OF THIS BILL OR SOMETHING CLOSE
|
| 01:56:33 |
Carper, Thomas "Tom" R. - U.S. Senator, [D] Delaware
TO IT WE'LL MOVE TO TRANSFORM THE HEALTH CARE SYSTEM TODAY THAT COSTS MORE THAN ANY ON EARTH, DOES NOT PROVIDE BETTER OUTCOMES, RESULTS IN SOME 14,000...
|
| 02:02:02 |
Lincoln, Blanche Lambert - U.S. Senator, [D] Arkansas
A WANTS TO KEEP WORKING. WE WERE GETTING CLOSE. AFTER THIS CENTER, I AM NEXT ON THE LIST. BUT WE WILL FOLLOW WITH THESE OTHER SENATORS IN THIS ORDER....
|
| 02:12:44 |
Baucus, Max - U.S. Senator, [D] Montana
ALARMED ABOUT BIG BILLS THAT ARE
|
| 02:12:46 |
Lincoln, Blanche Lambert - U.S. Senator, [D] Arkansas
DIFFICULT FOR THEM TO UNDERSTAND AND THEY NEED TIME TO LOOK AT THEM TO TAKE OUR TIME AND ENSURE WE GET IT RIGHT. MR. CHAIRMAN, I APPLAUD YOU FOR YOUR...
|
| 02:13:43 |
Grassley, Charles "Chuck" E. - U.S. Senator, [R] Iowa
ccccccccccccccccccccccccccwwwwwooooKccccccccccccccccccccNNNNcNNN I THINK THOSE NUMBERS ARE SOMEHOW THE SOME 4,000,000,094%. THEN BASED ON YOUR MOST RECENT...
|
| 02:17:11 |
Grassley, Charles "Chuck" E. - U.S. Senator, [R] Iowa
|
| 02:17:28 |
Grassley, Charles "Chuck" E. - U.S. Senator, [R] Iowa
WHAT IS THE TOTAL AMOUNT OF CUTS IN MEDICARE AND MEDICAID? I BELIEVE IT IS ABOUT 404 BILLION. THE TOTAL AMOUNT OF CUTS IN MEDICARE ADVANTAGE? THE NEW...
|
| 02:19:45 |
Rockefeller, John "Jay" D. IV - U.S. Senator, [D] West Virginia
THIS IS THE WAY IT HAS TO BE. I WANT TO START OF MY REMARKS BY SAYING SOMETHING WHICH IS SO SIMPLE, BUT I THINK IT HAS NECESSARY CLARITY. HEALTH REFORM...
|
| 02:25:43 |
Hatch, Orrin - U.S. Senator, [R] Utah
OF THE AISLE. WE DO NOT WANT TO MAKE COVERAGE UNAFFORDABLE FOR CERTAIN AMERICANS. WE WANT TO HONOR THE PRESIDENT'S PLEDGE THAT YOU CAN KEEP GOOD TO HAVE....
|
| 02:28:00 |
Elmendorf, Douglas W. - Director
IS WHAT THE ANALYSIS IS MUCH MORE DIFFICULT THAN SOME OF THE PREVIOUS LEGISLATION. >> IF YOU HAVE MORE TIME. >> YES, WITH SUFFICIENT TIME, YES, I COULD....
|
| 02:28:13 |
Hatch, Orrin - U.S. Senator, [R] Utah
I UNDERSTAND WHY THE MAJORITY IS TRYING TO GET THIS THROUGH. THIS CONTAINS A LOT OF -- IT IS A VERY COMPLEX
|
| 02:28:26 |
Hatch, Orrin - U.S. Senator, [R] Utah
MATTER. WE SHOULD AT LEAST HAVE THAT
|
| 02:28:30 |
Elmendorf, Douglas W. - Director
INFORMATION. YOU HAVE THE CAPABILITY OF GIVING IT TO US.
|
| 02:28:37 |
Hatch, Orrin - U.S. Senator, [R] Utah
I UNDERSTAND THE JOINT COMMITTEE ON TAXATION STATUS -- BASED ON THE TABLE THE COMBINED EFFECT OF INCOME PAYROLL WOULD BE 59% OF THOSE MAKING 150% OF...
|
| 02:30:04 |
Hatch, Orrin - U.S. Senator, [R] Utah
HIS TIME IS UP. >> I'VE ASKED THAT
|
| 02:30:15 |
Barthold, Thomas - Economist
MY REMARKS BE PUT ON THE RECORD. >> I WANT TO SAVE THE CHAIRMAN AND THE STEPS OF BOTH SIDES. AS I LOOK BACK ON THIS PROCESS OF OVER A YEAR. THEY HAVE
|
| 02:30:35 |
Hatch, Orrin - U.S. Senator, [R] Utah
SPENT MANY WEEKENDS WORKING MANY NIGHTS WORKING UNTIL LATE. A GROUP OF 6 BILLION TOLD MET 61
|
| 02:30:46 |
Conrad, Kent - U.S. Senator, [D] North Dakota
TIMES. MANY OF THOSE TIMES THE STAFF HAD TO REARRANGE THEIR SCHEDULES IN ORDER TO ACCOMMODATE THE WORK OF THE MEMBERS OF THAT GROUP. I DO NOTHING TO GET...
|
| 02:36:17 |
Baucus, Max - U.S. Senator, [D] Montana
TOWARDS AFFORDABILITY FOR ALL AMERICANS THAT
|
| 02:36:20 |
Snowe, Olympia J. - U.S. Senator, [R] Maine
HAS ELUDED US FOR DECADES, IF NOT A CENTURY. TO YOUR CREDIT, MR. CHAIRMAN, YOU HAVE PREDICATED THIS PROCESS ON SUBSTANCE RATHER THAN POLITICS, AND...
|
| 02:47:28 |
Baucus, Max - U.S. Senator, [D] Montana
MERGE THE BILLS TOGETHER AND ALSO BEFORE WE HAVE A VOTE, BEFORE WE MOVE TO PROCEED, I THINK YOU'RE ABSOLUTELY CORRECT. THE SENATE DESERVES, THE AMERICAN...
|
| 02:48:27 |
Kyl, Jon - U.S. Senator, [R] Arizona
PREMIUMS ON AMERICAN FAMILIES. THEY'RE WORRIED ABOUT THE EXPLODING DEBT. THE NEW RECORD DEFICIT AND OUT OF CONTROL SPENDING. THIS SPENDS $1 TRILLION...
|
| 02:53:30 |
Baucus, Max - U.S. Senator, [D] Montana
TO YOU (music) (music) HAPPY BIRTHDAY TO YOU (music) (music) HAPPY BIRTHDAY, DEAR MARIA (music) (music)
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| 02:53:38 |
Cantwell, Maria - U.S. Senator, [D] Washington
HAPPY BIRTHDAY TO YOU (music) >>
|
| 02:53:39 |
Baucus, Max - U.S. Senator, [D] Montana
THANK YOU. THANK YOU, MR. CHAIRMAN.
|
| 02:53:47 |
Unidentified Speaker, -
I THOUGHT FOR A WHILE THERE THAT MAYBE EVERYBODY ON THIS COMMITTEE WOULD CELEBRATE THEIR BIRTHDAY AS WE WALKED THROUGH HEALTH CARE REFORM, BUT I'M GLAD...
|
| 02:54:06 |
Cantwell, Maria - U.S. Senator, [D] Washington
THIS MOVEMENT OF THIS LEGISLATION TO THE FLOOR SHOW THAT YOU KNOW HOW TO GET OVER THE FINISH LINE THAT YOUR PERSISTENCE WILL HELP US IMPROVE THIS BILL....
|
| 03:01:04 |
Baucus, Max - U.S. Senator, [D] Montana
DESCRIBED AS A MAJOR TAX CUT. FIRST, CAN YOU TELL ME WHAT PORTION OF THIS SO-CALLED TAX CUT WILL
|
| 03:01:09 |
Bunning, Jim - U.S. Senator, [R] Kentucky
GO TO TAXPAYERS WITH INCOME TAX LIABILITY? AND WHAT PORTION WILL ACTUALLY GO TO PEOPLE WITH NO INCOME TAX LIABILITY, AND THEREFORE IS CLASSIFIED AS...
|
| 03:01:48 |
Barthold, Thomas - Economist
75%? THAT MEANS THAT -- >> THAT'S THE AVERAGE ACROSS THE BUDGET PERIOD. >> IN OTHER WORDS THAT WOULD BE MORE OF A SPENDING OUTLAY? >> THE CONGRESSIONAL...
|
| 03:02:08 |
Bunning, Jim - U.S. Senator, [R] Kentucky
ACCOUNTS THOSE PORTIONS OF SUBSIDIES AS OUTLAY SIDE OF
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| 03:02:14 |
Barthold, Thomas - Economist
THE LEDGER. >> SO A LARGE PORTION IS ACTUALLY SPENDING AND NOT TAX
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| 03:02:18 |
Bunning, Jim - U.S. Senator, [R] Kentucky
REDUCTION? AND THIS HEALTH CARE TAX CREDIT, IS THIS MONEY THAT FAMILIES GET BACK IN THEIR POCKETS? THEY CAN SPEND ON THEIR
|
| 03:02:25 |
Barthold, Thomas - Economist
OWN PRIORITIES? IN OTHER WORDS, CAN FAMILIES USE THIS TAX RELIEF TO PUT FOOD ON THE TABLE, INCREASE THEIR SAVINGS, OR PAY THEIR TAX -- THEIR
|
| 03:02:35 |
Bunning, Jim - U.S. Senator, [R] Kentucky
CHILDREN'S TUITION? >> WELL, SENATOR, THAT'S ACTUALLY A COMPLICATED QUESTION AS THE MARK LAYS OUT, OF COURSE, THE PAYMENT IS MADE THROUGH THE EXCHANGE...
|
| 03:03:00 |
Barthold, Thomas - Economist
WITH THE REMAINDER OF THEIR CASH IF THEY NOW HAVE A DIFFERENT HEALTH CARE OUTCOME. BUT IN TERMS OF THE DIRECT PAYMENT, THE MARK WOULD DIRECT -- DIRECT...
|
| 03:03:34 |
Bunning, Jim - U.S. Senator, [R] Kentucky
THE REDUCTION IN MEDICATION, WASTE, AND DISPENSING IN BOTH COMMUNITY PHARMACIES AS WELL AS LONG-TERM CARE FOR PHARMACIES? IF SO, COULD YOU PROVIDE THE...
|
| 03:04:22 |
Bunning, Jim - U.S. Senator, [R] Kentucky
SETTINGS? >> DON'T BE BASHFUL, I ONLY GOT FIVE MINUTES.
|
| 03:04:28 |
Elmendorf, Douglas W. - Director
SPEAK. >> WHAT WE BASICALLY
|
| 03:04:31 |
Bunning, Jim - U.S. Senator, [R] Kentucky
DID WAS WE LOOKED AT THE
|
| 03:04:34 |
Elmendorf, Douglas W. - Director
DECREASE IN THE
|
| 03:04:37 |
Bunning, Jim - U.S. Senator, [R] Kentucky
COSTS -- >> GO AHEAD. >> I DON'T MEAN TO RUN YOU OUT OF YOUR SEAT. >> I'M SORRY. WE RECEIVED SOME INFORMATION FROM CMS THAT INDICATED THAT
|
| 03:04:47 |
Bunning, Jim - U.S. Senator, [R] Kentucky
THERE WOULD BE SAVINGS FROM MOVING FROM A 30 DAY BLISTER PACK TO DAILY
|
| 03:04:52 |
Unidentified Speaker, -
DISPENSING. SO WE CAPTURED THOSE SAVINGS AND TOOK INTO ACCOUNT THAT LONG-TERM CARE PHARMACIES WOULD RECEIVE KIND OF ADDITIONAL
|
| 03:04:58 |
Bunning, Jim - U.S. Senator, [R] Kentucky
|
| 03:04:59 |
Bunning, Jim - U.S. Senator, [R] Kentucky
COSTS. >> WAS MEDICARE PART D
|
| 03:05:03 |
Unidentified Speaker, -
BENEFICIARYIES -- WAS THAT SAVINGS ALSO INCLUDED? >> THE SAVINGS WERE REALLY FROM MOVING FROM A DIFFERENT METHOD OF DISPENSING THE DRUG. >> THAT'S...
|
| 03:05:21 |
Bunning, Jim - U.S. Senator, [R] Kentucky
MILLION? >> IN THE MODIFIED MARKETS AMENDMENTED, I BELIEVE THE SAVINGS OVER 10 YEARS WERE CLOSER TO
|
| 03:05:29 |
Unidentified Speaker, -
THREE. >> WELL, ACCORDING TO THE PRELIMINARY
|
| 03:05:33 |
Bunning, Jim - U.S. Senator, [R] Kentucky
SCORE CARD, IT'S $6.1
|
| 03:05:34 |
Unidentified Speaker, -
|
| 03:05:37 |
Bunning, Jim - U.S. Senator, [R] Kentucky
|
| 03:05:38 |
Unidentified Speaker, -
BILLION. SO UNLESS THAT'S
|
| 03:05:41 |
Bunning, Jim - U.S. Senator, [R] Kentucky
INCORRECT. THANK YOU, YOU'RE TAKING ALL
|
| 03:05:43 |
Unidentified Speaker, -
MY TIME AND I WANTED TO SAY SOMETHING. THANK YOU VERY MUCH. I WISH I COULD VOTE FOR
|
| 03:05:52 |
Bunning, Jim - U.S. Senator, [R] Kentucky
THIS BILL, BUT IT DOESN'T CORRECT THE PROBLEM THAT WE HAVE IN OUR HEALTH CARE SYSTEM. AND WITH THE TWO ANSWERS I'VE RECEIVED ON JUST TWO INDIVIDUAL...
|
| 03:06:34 |
Elmendorf, Douglas W. - Director
CAN ANSWER YOUR QUESTION MORE COHERENTLY NOW, SENATOR. >> I WANT TO GO THROUGH
|
| 03:06:39 |
Bunning, Jim - U.S. Senator, [R] Kentucky
WITH YOU THE COST SIDE AND THEN THE SAVINGS SIDE OF WHAT'S
|
| 03:06:43 |
Baucus, Max - U.S. Senator, [D] Montana
HAPPENING WITH THE
|
| 03:06:45 |
Crapo, Michael "Mike" - U.S. Senator, [R] Idaho
MARKET. AND AS I UNDERSTAND IT, ON THE EFFECTS ON
|
| 03:06:52 |
Elmendorf, Douglas W. - Director
THE FEDERAL DEFICIT IN TERMS OF WHAT I WILL CALL THE COST SIDE. YOU'VE PROJECTED THAT MEDICARE AND CHIP
|
| 03:06:59 |
Crapo, Michael "Mike" - U.S. Senator, [R] Idaho
OUTLAYS WILL INCREASE BY $345 BILLION, THAT EXCHANGE SUBSIDIES AND RELATED SUBSIDIES WILL INCREASE BY $461 BILLION, AND THAT THE SMALL EMPLOYER TAX...
|
| 03:07:38 |
Elmendorf, Douglas W. - Director
SPENDING. AND ABOUT 25% ARE TAX RELIEF. IS THAT CORRECT? >> YES, THAT'S CORRECT. >> I DIDN'T KNOW WHEN WE -- >> AND USING THAT CLARIFICATION,
|
| 03:07:48 |
Crapo, Michael "Mike" - U.S. Senator, [R] Idaho
THEN WE GET TO A TOTAL COST OF COVERAGE OF $829 BILLION. THEN, THAT $829 BILLION IS OFFSET IN SOME WAY TO RESULT ULTIMATELY IN AN $81 BILLION REDUCTION...
|
| 03:08:04 |
Elmendorf, Douglas W. - Director
UNDERSTANDING IS THAT
|
| 03:08:05 |
Elmendorf, Douglas W. - Director
THE FIRST AND PROBABLY MOST
|
| 03:08:07 |
Crapo, Michael "Mike" - U.S. Senator, [R] Idaho
SIGNIFICANT OFFSET IS A $404 BILLION NET REDUCTION OF MEDICARE SPENDING. CORRECT? >> YES, SENATOR. >> THERE'S A GROSS NUMBER AND A NET NUMBER THERE ISN'T...
|
| 03:08:34 |
Elmendorf, Douglas W. - Director
TOGETHER. >> IN THE INTEREST OF TIME, I'LL TAKE THE NET NUMBER OF $404
|
| 03:08:38 |
Crapo, Michael "Mike" - U.S. Senator, [R] Idaho
OF MEDICARE CUTS -- OR $404
|
| 03:08:41 |
Elmendorf, Douglas W. - Director
BILLION OF MEDICARE AND OTHER RELATED CUTS, BUT MOSTLY MEDICARE CUTS. AND THEN, THERE WILL BE AS I READ YOUR CHARTS, A NUMBER OF REDUCTIONS IN REVENUE...
|
| 03:08:56 |
Crapo, Michael "Mike" - U.S. Senator, [R] Idaho
IN THE IMPACT IN TERMS OF TAXES AND PENALTIES THAT ARE PAID. A $4 BILLION PENALTY BY UNINSURED INDIVIDUALS. THE PENALTY PAYMENTS BY EMPLOYERS RESULTING...
|
| 03:09:48 |
Barthold, Thomas - Economist
BILLION OTHER IMPACT OF TAX
|
| 03:09:52 |
Crapo, Michael "Mike" - U.S. Senator, [R] Idaho
INCREASES WHICH I UNDERSTAND RELATE ALSO TO THE INCREASE TAXES ON WAGES. IS THAT CORRECT? >> I THINK, YES, I
|
| 03:09:59 |
Barthold, Thomas - Economist
THINK THAT'S PRINCIPALLY AN INCREASE IN TAXABLE
|
| 03:10:02 |
Crapo, Michael "Mike" - U.S. Senator, [R] Idaho
INCOME AS
|
| 03:10:04 |
Barthold, Thomas - Economist
RELATED TO THE
|
| 03:10:05 |
Crapo, Michael "Mike" - U.S. Senator, [R] Idaho
REDUCTION IN EMPLOYER SPONSORED INSURANCE COVERAGE AND WORKERS THEN GETTING CASH -- >> TAXABLE CASH IN THEIR WAGES WHICH IS THEN INCOME TAX INCREASE....
|
| 03:10:19 |
Elmendorf, Douglas W. - Director
PAGE THREE OF THE $196 BILLION OF CHANGES IN REVENUES, ALL OF WHICH APPEAR TO ME WITH THE EXCEPTION OF A FEW THAT ARE FRAUD, WASTE, AND ABUSE, ABOUT $2...
|
| 03:10:31 |
Crapo, Michael "Mike" - U.S. Senator, [R] Idaho
OTHER ON THE CBR OF ABOUT $2 BILLION. THE REST
|
| 03:10:34 |
Elmendorf, Douglas W. - Director
OF THAT IS TAX INCREASES,
|
| 03:10:35 |
Crapo, Michael "Mike" - U.S. Senator, [R] Idaho
IS THAT NOT CORRECT? >> THE TAX INCREASES ARE ALL -- THE TAX CHANGES I SHOULD SAY ARE ALL DETAILED ON THE TABLE THAT WE'VE PROVIDED TO THE MEMBERS RELATED...
|
| 03:11:00 |
Barthold, Thomas - Economist
AGI THRESHOLD FOR MEDICARE, THE FSH CHANGES AND ALIKE. >> BUT WHAT I -- AND THIS IS PROBABLY FOR YOU -- >> $196 BILLION, YOU'RE CORRECT, SENATOR,...
|
| 04:30:45 |
Rockefeller, John "Jay" D. IV - U.S. Senator, [D] West Virginia
NOT TO STOP THEM BECAUSE NOBODY EVER WILL DO THAT BUT TO SLOW THEM DOWN. MAKE THEM MORE RATIONAL, MORE REASONABLE AND THAT IS THE PUBLIC OPTION. IF THE...
|
| 04:35:08 |
Baucus, Max - U.S. Senator, [D] Montana
OCTOBER 5th. FRANKLY, I DID NOT BELIEVE THAT THE NEED TO VOTE
|
| 04:35:12 |
Grassley, Charles "Chuck" E. - U.S. Senator, [R] Iowa
TO ADOPT THOSE
|
| 04:35:13 |
Baucus, Max - U.S. Senator, [D] Montana
CORRECTIONS AND CLARIFICATIONS BECAUSE IN MY OPINION, THEY ARE ALREADY INCORPORATED IN THE CHAIRMAN'S MARK AS AMENDED. HOWEVER IN THE SPIRIT OF FAIRNESS,...
|
| 04:35:52 |
Kyl, Jon - U.S. Senator, [R] Arizona
MR. ROCKEFELLER? >> AYE. >> MR.
|
| 04:35:54 |
Kyl, Jon - U.S. Senator, [R] Arizona
CONRAD? >> AYE. >> MR. CONRAD? >> AYE. >> MR. BINGAMAN. >> AYE. >> MR. KERRY? >>
|
| 04:36:00 |
Baucus, Max - U.S. Senator, [D] Montana
AYE. >> MRS. LINCOLN? >> AYE. >> MR. WYDEN? >>
|
| 04:36:07 |
Unidentified Speaker, -
AYE. >>
|
| 04:36:08 |
Kyl, Jon - U.S. Senator, [R] Arizona
MR. SCHUMER? >>
|
| 04:36:10 |
Baucus, Max - U.S. Senator, [D] Montana
AYE. >> MS.
|
| 04:36:12 |
Unidentified Speaker, -
|
| 04:36:13 |
Unidentified Speaker, -
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| 04:36:14 |
Unidentified Speaker, -
STAPBENOW? >>. >>
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| 04:36:15 |
Unidentified Speaker, -
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| 04:36:16 |
Unidentified Speaker, -
AYE. >> MISS
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| 04:36:17 |
Unidentified Speaker, -
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| 04:36:18 |
Unidentified Speaker, -
CANTWELL? >> AYE. >>
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| 04:36:19 |
Unidentified Speaker, -
MR. CARPER? >>
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| 04:36:20 |
Unidentified Speaker, -
AYE. >> MR.
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| 04:36:21 |
Unidentified Speaker, -
GRASSLEY? >> MR. GRASSLEY B6fNO. >>
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| 04:36:23 |
Unidentified Speaker, -
MR. HATCH? >> NO. >> MISS
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| 04:36:26 |
Unidentified Speaker, -
SNOWE? >>
|
| 04:36:27 |
Unidentified Speaker, -
NO. >> MR.
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| 04:36:28 |
Unidentified Speaker, -
KYLE? >> NO. >> MR. BUNNING? >>
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| 04:36:31 |
Unidentified Speaker, -
NO. >> MR. CRAPO? >>
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| 04:36:34 |
Unidentified Speaker, -
NO. >> MR. ROBERTS? >> NO. >>
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| 04:36:36 |
Unidentified Speaker, -
MR. ENSEN? >> NO. >>
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| 04:36:38 |
Unidentified Speaker, -
MR.
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| 04:36:39 |
Unidentified Speaker, -
ENZI? >>
|
| 04:36:40 |
Unidentified Speaker, -
NO. >> MR.
|
| 04:36:41 |
Unidentified Speaker, -
CORNYN? >> MR. CORNYN
|
| 04:36:42 |
Unidentified Speaker, -
NO. >> MR. CHAIRMAN? >>
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| 04:36:44 |
Unidentified Speaker, -
AYE. >>
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| 04:36:45 |
Unidentified Speaker, -
CHAIRMAN
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| 04:36:46 |
Unidentified Speaker, -
VOTES AYE. >>
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| 04:36:47 |
Unidentified Speaker, -
CLERK WILL
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| 04:36:48 |
Unidentified Speaker, -
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| 04:36:49 |
Unidentified Speaker, -
TALLY THE VOTE. >>
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| 04:36:51 |
Unidentified Speaker, -
MR. CHAIRMAN, THE FINAL TALLY IS
|
| 04:36:53 |
Unidentified Speaker, -
13 AYES, TEN
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| 04:36:54 |
Unidentified Speaker, -
NAYS. >> THE MOTION
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| 04:36:55 |
Unidentified Speaker, -
IS
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| 04:36:56 |
Unidentified Speaker, -
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| 04:36:57 |
Unidentified Speaker, -
ADOPTED. SENATOR
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| 04:36:59 |
Unidentified Speaker, -
GRASSLEY? >>
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| 04:37:00 |
Unidentified Speaker, -
I DON'T
|
| 04:37:01 |
Unidentified Speaker, -
HAVE
|
| 04:37:02 |
Unidentified Speaker, -
ANYTHING. THANK YOU. >>
|
| 04:37:03 |
Unidentified Speaker, -
OKAY. I'LL JUST
|
| 04:37:04 |
Unidentified Speaker, -
MAKE A STATEMENT HERE.
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| 04:37:06 |
Unidentified Speaker, -
ONE IS, I VERY MUCH APPRECIATE THE COOPERATION OF THIS
|
| 04:37:10 |
Baucus, Max - U.S. Senator, [D] Montana
COMMITTEE. WE STARTED
|
| 04:37:12 |
Unidentified Speaker, -
THIS ENDEAVOR A COUPLE OF YEARS AGO, AND HELD MANY,
|
| 04:37:17 |
Baucus, Max - U.S. Senator, [D] Montana
MANYnr HEARINGS ON SOME OF THEM FORMAL HEARINGS. SOME OF THEM
|
| 04:37:22 |
Grassley, Charles "Chuck" E. - U.S. Senator, [R] Iowa
INFORMAL.
|
| 04:37:23 |
Baucus, Max - U.S. Senator, [D] Montana
MANY DISCUSSIONS. SAT DOWN WITH EXPERTS, CBO AND MANY OTHERS. THE GROUP OF SIX MET. AND MY GOAL FROM THE OUTSET WAS FOR US OUTSET WAS FOR THE REST...
|
| 04:39:42 |
Unidentified Speaker, -
|
| 04:39:43 |
Rockefeller, John "Jay" D. IV - U.S. Senator, [D] West Virginia
MR. NELSON. >>
|
| 04:39:44 |
Conrad, Kent - U.S. Senator, [D] North Dakota
AYE. >> MR. MENENDEZ. >>
|
| 04:39:46 |
Unidentified Speaker, -
|
| 04:39:47 |
Bingaman, Jeff - U.S. Senator, [D] New Mexico
AYE. >>
|
| 04:39:49 |
Kerry, John F. - U.S. Senator, [D] Massachusetts
MR. CARPER. >> AYE. >> MR.
|
| 04:39:51 |
Unidentified Speaker, -
GRASSLEY. >>
|
| 04:39:52 |
Lincoln, Blanche Lambert - U.S. Senator, [D] Arkansas
NO. >> MR.
|
| 04:39:53 |
Unidentified Speaker, -
HATCH. >>
|
| 04:39:54 |
Wyden, Ronald "Ron" Lee - U.S. Senator, [D] Oregon
NO. >> MS. SNOWE. >>
|
| 04:39:56 |
Unidentified Speaker, -
AYE. >>
|
| 04:39:57 |
Schumer, Charles E. - U.S. Senator, [D] New York
MR. KYL. >> NO. >>
|
| 04:39:59 |
Unidentified Speaker, -
MR.
|
| 04:40:00 |
Stabenow, Debbie - U.S. Senator, [D] Michigan
BUNNING. >> NO. >>
|
| 04:40:01 |
Cantwell, Maria - U.S. Senator, [D] Washington
MR.5s >>
|
| 04:40:03 |
Unidentified Speaker, -
NO. >>
|
| 04:40:04 |
Nelson, Bill - U.S. Senator, [D] Florida
MR. ROBERTS. >>
|
| 04:40:05 |
Unidentified Speaker, -
NO. >> MR. ENSIGN. >>
|
| 04:40:07 |
Menendez, Robert "Bob" - U.S. Senator, [D] New Jersey
NO. >> MR.
|
| 04:40:09 |
Unidentified Speaker, -
ENZI. >>
|
| 04:40:10 |
Carper, Thomas "Tom" R. - U.S. Senator, [D] Delaware
NO. >>
|
| 04:40:11 |
Unidentified Speaker, -
|
| 04:40:12 |
Grassley, Charles "Chuck" E. - U.S. Senator, [R] Iowa
|
| 04:40:13 |
Unidentified Speaker, -
|
| 04:40:14 |
Hatch, Orrin - U.S. Senator, [R] Utah
MR.
|
| 04:40:15 |
Unidentified Speaker, -
CORENYN. >> NO. >>
|
| 04:40:16 |
Snowe, Olympia J. - U.S. Senator, [R] Maine
MR. CHAIRMAN. >>
|
| 04:40:17 |
Unidentified Speaker, -
AYE. >>
|
| 04:40:18 |
Kyl, Jon - U.S. Senator, [R] Arizona
CHAIRMAN VOTES AYE. >>
|
| 04:40:20 |
Bunning, Jim - U.S. Senator, [R] Kentucky
CLERK WILL TALLY THE
|
| 04:40:22 |
Unidentified Speaker, -
|
| 04:40:23 |
Crapo, Michael "Mike" - U.S. Senator, [R] Idaho
VOTE. >>
|
| 04:40:24 |
Unidentified Speaker, -
MR. CHAIRMAN, THE
|
| 04:40:25 |
Roberts, Pat - U.S. Senator, [R] Kansas
FINAL
|
| 04:40:26 |
Unidentified Speaker, -
TALLY
|
| 04:40:27 |
Ensign, John - U.S. Senator, [R] Nevada
|
| 04:40:29 |
Unidentified Speaker, -
|
| 04:40:30 |
Enzi, Michael "Mike" B. - U.S. Senator, [R] Wyoming
IS 14EYE AYES, 9 NAYS. >> GRANT
|
| 04:40:35 |
Cornyn, John - U.S. Senator, [R] Texas
TECHNICAL
|
| 04:40:36 |
Unidentified Speaker, -
BUDGETARY
|
| 04:40:37 |
Baucus, Max - U.S. Senator, [D] Montana
CHANGES WITHOUT OBJECTION IT IS ORDERED. I THANK
|
| 04:40:39 |
Unidentified Speaker, -
ALL
|
| 04:40:43 |
Baucus, Max - U.S. Senator, [D] Montana
SENATORS. >>
|
| 04:40:46 |
Unidentified Speaker, -
GOOD JOB. >> GOOD JOB. [CAPTIONS
|
| 04:40:56 |
Baucus, Max - U.S. Senator, [D] Montana
|
| 04:41:09 |
Unidentified Speaker, -
|
| 04:41:13 |
Unidentified Speaker, -
COPYRIGHT NATIONAL CABLE SATELLITE CORP. 2009] [CAPTIONING PERFORMED BY NATIONAL CAPTIONING INSTITUTE] >> THIS MORNING A CONGRESSIONAL...
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.