- The House Ways and Means Committee advanced its proposal for the $3.5 trillion budget bill. The legislation would make permanent enhanced ACA subsidies that give people greater help in affording their premiums and expand Medicare to cover dental (in 2028), hearing (in 2023), and vision (in 2022) benefits. The committee passed the bill by a party line vote of 24-19. The Senate is expected to draft its own part of the legislation this week. (Articles here, here, and here)
- House Democrats are expected today to release a package of tax changes to support their $3.5 trillion budget bill. According to the latest details, which could change before the draft is released, the proposal would increase the tax rate for individuals with taxable income over $400,000 a year and married couples filing jointly earning over $450,000 annually from 37 percent to 39.6 percent. The corporate tax rate for businesses with an income of $5 million and above would increase from 21 percent to 26.5 percent. (Articles here and here)
- A group of House Democrats led by Representatives Scott Peters and Kurt Schrader introduced a scaled-back bill aimed at lowering prescription drug prices. According to a summary of the bill, the legislation would “preserve innovation” from drug companies, allow HHS to negotiate lower drug prices only when Medicare Part B drugs are no longer protected by exclusivity but still do not face competition, and cap out-of-pocket drug costs for Medicare beneficiaries. (Article here; Summary here)
September 13, 2021
D.C. News