Late last night, Congress approved a bill to avoid the widespread tax increases and 2% across-the-board spending cuts known as the “fiscal cliff.” While the legislation permanently raises taxes on individuals with incomes over $400,000 and couples making over $450,000, it only delays the 2% across-the-board spending cuts (including Medicare reimbursements) for two months and includes significant reductions in hospital payments. President Obama and congressional leaders say they will continue to negotiate a deficit reduction and entitlement reform package before the 2% spending cuts take effect on March 1, 2013.
Archive for the ‘Affordable Care Act’ Category
This Week in Washington 06/29/12 – Featuring Supreme Court Ruling Analysis
Future of the Affordable Care Act: The Debate Rages On…
Yesterday, the Supreme Court upheld the constitutionality of the Affordable Care Act’s (“ACA”) individual mandate by a 5-4 majority (click here to view Hall Render’s Broadcast sent 06/28/12). Yet the fate of the landmark legislation remains far from decided. On Capitol Hill, Republicans will now move legislation to repeal the health care law in its entirety. However, the ability to do so will hinge on their maintaining a majority in the House of Representatives, winning a majority in the Senate and Mitt Romney winning the White House from Barack Obama following the November elections. While House Republicans will hold a largely symbolic vote on July 11 to repeal President Obama’s signature legislative achievement, the bill stands no chance of passing the Democrat-controlled Senate.
Ruling from the Supreme Court on the ACA Not Issued This Week
Hall Render has learned the Supreme Court will not issue an opinion on the constitutionality of the Affordable Care Act this week. Sources at the Court tell Hall Render the earliest the Court might rule on the landmark health care law is Monday, June 18.
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