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Politics : Politics for Pros- moderated

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To: DMaA who wrote (314144)	7/10/2009 6:16:57 PM
From: Neeka	Read Replies (1) of 793925

House Dems to tax rich to pay for health care By ERICA WERNER, Associated Press Writer Friday, July 10, 2009 (07-10) 13:14 PDT WASHINGTON (AP) -- House Democrats plan to pay for a sweeping health care overhaul by boosting taxes on the wealthy. The taxes will hit households with incomes of $350,000 a year and above. Ways and Means Committee Chairman Charles Rangel of New York said the tax would raise $540 billion over 10 years. In combination with cuts to Medicare and Medicaid that would pay for a comprehensive health bill in the range of $1 trillion. Rangel told reporters of the decision after a day of meetings on President Barack Obama's top domestic priority. WASHINGTON (AP) — President Barack Obama on Friday acknowledged the tough going for health care overhaul as lawmakers struggled with fresh divisions over how to pay for comprehensive legislation. "We're closer to that significant reform than at any time in recent history," Obama told reporters at a news conference in Italy. "That doesn't make it easy. It's hard. And we are having a whole series of constant negotiations." Conservative Democrats are demanding significant changes before they will support a sweeping health care overhaul, forcing the House to join the Senate in stalling Obama's top domestic priority. Democratic leaders had set an ambitious timetable for the House and Senate to vote on legislation before the August recess. sfgate.com

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