Tag Archives: Fund

Congress to Repeal Three Health Industry Taxes Intended to Fund Obamacare

Congress to Repeal Three Health Industry Taxes Intended to Fund ObamacareCongress is preparing to repeal three major health industry taxes meant to fund the Affordable Care Act in the year-end spending bill, dealing a significant blow to Obamacare's funding mechanisms.While congressional leaders are still hammering out the details of the spending bill, lawmakers have reportedly agreed to scrap the 40 percent Cadillac tax on high end employer plans, the 2.3 percent medical device tax, and an additional health insurance tax.The repeal of the taxes, which were mandated by the Obama administration's Affordable Care Act, constitutes a win for the health insurance industry and a severe funding problem for Obamacare. The Cadillac tax repeal is expected to cost nearly $ 200 billion over 10 years, while the repeals of the other two taxes are projected to cost between $ 15 billion and $ 25 billion each over the same period.Congress prevented the Cadillac tax, which drew strong opposition from employers and unions with expensive health benefits plans, from taking effect until 2022, and the House voted over the summer to abandon it permanently. The medical device and health insurance taxes have been enforced on and off since the Affordable Care Act was passed.The text of the $ 1.4 trillion spending bill is expected to be released Monday, and the package is expected to pass both the House and Senate this week.Some Senate Democrats, including Senate Minority Leader Chuck Schumer and Senator Pat Leahy have opposed the Cadillac tax since the Obama years, “This tax unfortunately would target far too many health plans and place far too great a burden on working families,” Leahy said in 2015. “We must find a way to contain the cost of health care without creating geographic disparities and limiting the benefits available in health plans.”



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Hedge fund billionaire fires back at Warren: 'Your vilification of the rich is misguided'

Hedge fund billionaire fires back at Warren: 'Your vilification of the rich is misguided'Hedge fund mogul Leon Cooperman takes issue with Sen. Warren's plans for a wealth tax.



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Warren Says She’ll Release a ‘Plan’ to Fund Medicare for All after Dodging the Issue during Debate

Warren Says She’ll Release a ‘Plan’ to Fund Medicare for All after Dodging the Issue during DebateAfter facing heavy criticism from fellow candidates during the last Democratic debate for evading questions about funding her Medicare for All proposal, Senator Elizabeth Warren (D., Mass.) announced Sunday at an event in Iowa that she was “getting close” to a funding plan after “working for a long time on this question.”“I plan over the next few weeks to put out a plan that talks about specifically the cost of Medicare for All, and specifically how we pay for it,” Warren said. “Right now, the cost estimates for Medicare for All vary by trillions and trillions of dollars, and the different revenue streams for how to fund it — there are a lot of them. So this is something I’ve been working for months and months, and it’s got just a little more work until it’s finished.” During the fourth Democratic debate on October 19, Warren was chastised by fellow Senator Amy Klobuchar (D., Minn.) and South Bend, Ind., mayor Pete Buttigieg for refusing to acknowledge that an increase in middle-class taxes would be required to fund the plan.When Warren was asked again on Sunday if middle-class taxes would go up under her plan, she deflected, saying, “The whole plan will be out — you’ll be able to look at it.”Senator Bernie Sanders (I., Vt.), who introduced the legislation on the Senate floor in 2017, has not shied away from explaining that middle-class taxes will go up under Medicare for All, assuaging concerns with a pledge that total costs will be less than they are currently. “The tax increase they pay will be substantially less than what they were paying for premiums and out-of-pocket expansions,” Sanders said during the Ohio debate. The original bill does not address how the single-payer system will be funded.Buttigieg, who last week released an ad claiming that Warren and Sanders were “infringing on freedom” with their Medicare for All proposals, told CNN’s Jake Tapper on Sunday that he thinks Warren is being “evasive” on the issue.“We need to see how this is going to be paid for,” Buttigieg said. “Right now, whether you copy-paste the Bernie Sanders math or do it some other way, there is a hole amounting to trillions of dollars in how this is supposed to work.”



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Scaramucci says he will start and fund a super PAC to 'dismantle' Trump

Scaramucci says he will start and fund a super PAC to 'dismantle' TrumpAnthony Scaramucci piles on to his Trump bashing, revealing his plans to start and fund a political action committee to "dismantle" Trump.



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North Korea took $2 billion in cyberattacks to fund weapons program: U.N. report

North Korea took $  2 billion in cyberattacks to fund weapons program: U.N. reportNorth Korea has generated an estimated $ 2 billion for its weapons of mass destruction programs using “widespread and increasingly sophisticated” cyberattacks to steal from banks and cryptocurrency exchanges, according to a confidential U.N. report seen by Reuters on Monday. Pyongyang also “continued to enhance its nuclear and missile programmes although it did not conduct a nuclear test or ICBM (Intercontinental Ballistic Missile) launch,” said the report to the U.N. Security Council North Korea sanctions committee by independent experts monitoring compliance over the past six months. The North Korean mission to the United Nations did not respond to a request for comment on the report, which was submitted to the Security Council committee last week.



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US hedge fund billionaire charged with sex trafficking minors

US hedge fund billionaire charged with sex trafficking minorsJeffrey Epstein, a hedge fund billionaire with ties to top politicians and celebrities, was charged on Monday with sexually exploiting dozens of young girls. Epstein, 66, was arrested at an airport in New Jersey on Saturday after returning to the United States from Paris on a private jet. In an indictment unsealed in US District Court for the Southern District of New York, he was charged with one count of sex trafficking of minors and one count of conspiracy to commit sex trafficking of minors.



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US hedge fund billionaire charged with sex trafficking minors

US hedge fund billionaire charged with sex trafficking minorsJeffrey Epstein, a hedge fund billionaire with ties to top politicians and celebrities, was charged on Monday with sexually exploiting dozens of young girls. Epstein, 66, was arrested at an airport in New Jersey on Saturday after returning to the United States from Paris on a private jet. In an indictment unsealed in US District Court for the Southern District of New York, he was charged with one count of sex trafficking of minors and one count of conspiracy to commit sex trafficking of minors.



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California governor proposes a $21 billion wildfire fund

California governor proposes a $  21 billion wildfire fundCalifornia Governor Gavin Newsom has proposed helping utilities create a fund of up to $ 21 billion to compensate future victims of wildfires sparked by the companies’ equipment or employees, an aide said on Friday. The proposal by the Democratic governor follows the bankruptcy filing earlier this year of San Francisco-based utility PG&E Corp, which anticipates $ 30 billion in liabilities from wildfires that have been blamed on its equipment, including the state’s deadliest blaze which killed more than 80 people last year. The state’s other two large utilities, Southern California Edison and San Diego Gas & Electric, have seen their credit ratings downgraded over wildfire concerns.



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9/11 first responder pleads for victims fund from his hospice bed

9/11 first responder pleads for victims fund from his hospice bedLuis Alvarez, who testified with Jon Stewart, asked Congress to ‘do the right thing’ in what he expects to be his last interviewAn emergency first responder who was diagnosed with cancer following his work at Ground Zero in New York has spoken from his hospice bed just days after he testified alongside comedian and activist Jon Stewart about funding for those sickened by their work after the 9/11 terrorist attacks.Retired New York police department (NYPD) detective Luis Alvarez used what he expects to be his final interview to give a last impassioned plea to Congress to renew the 9/11 victims fund and deal with an “epidemic” of Ground Zero-related illnesses.Alvarez said on Thursday that after nearly 70 rounds of chemotherapy, doctors had told him there was nothing more they could do. He was diagnosed with colorectal cancer in 2016 that has spread to his liver.“It’s an epidemic. There’s going to be more and more first responders getting sick. And our government has to take care of them. It’s just a matter of decency, a matter of doing the right thing. We did the right thing when we went down there. Now it’s the government’s turn to do the right thing by us,” Alvarez, 53, told Fox News.> UPDATE: 9/11 first responder Luis Alvarez does an interview with @FoxNews as his liver is failing after breathing in toxic dust after the Twin Towers fell t.co/cIUomvx6OJ> > — Nikki Schwab (@NikkiSchwab) June 20, 2019Alvarez said going through cancer has been stressful for his whole family. “We need to ease the stress on the first responders,” he added. “And let them know that they’re not alone. That the government is here to back them up, to give them the support they need, the financial support that they’re going to need when they get sick. It’s just a matter of time. You know, most of us that were down there – it’s just a matter of time before we get sick.”It came just nine days after he received a standing ovation in Washington DC, where Stewart and other first responders addressed the House judiciary committee, to speak out against plans to cut 9/11 compensation by up to 70%.“You made me come down here the day before my 69th round of chemo, and I’m going to make sure that you never forget to take care of the 9/11 responders,” he said at the hearing. But the following day his health took a downturn and doctors concluded that his liver had shut down.Speaking with his son David by his side from a hospice in Long Island, near New York City, Alavarez said to Fox News host Shepard Smith on Thursday: “We need this bill passed, Shep. It’s got to be passed quickly and efficiently so we never have to come down to Washington again and lobby.”He said he was comfortable and “at peace” surrounded by his family and that he had “no regrets whatsoever”.He insisted that he was just doing what any fire, police or emergency worker would have done when he spent three months at the site of the 9/11 attacks, searching for remains and clearing up in a smoldering, toxic pile after terrorists flew hijacked passenger jets into the World Trade Center. He added: “I’m nobody special. I did what all the other guys did. And now we’re paying the price for it.”He said he is leaving his sons David, 29, Tyler, 19, and Ben, 14, “without a father”.While he said he was “lucky” to have had the heath care that he has, there are people in his position who do not.He said it was time for the government to act: “We just want the money to be there for our families so that God forbid they do get sick, they’re covered.”He said they were told the air was safe – which it was not – but even if they had known it was unsafe they would have gone in regardless, “because that’s what we do”.He said the problem is a US-wide issue among first responders who travelled to New York after the 9/11 attacks to help and warned others to be vigilant.“I just want them to know, hey if you were down at Ground Zero … get yourself checked out. Because you could be sick from ground zero,” he added.



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McConnell on Jon Stewart: 'I don't know why he's all bent out of shape' over 9/11 victims' fund

McConnell on Jon Stewart: 'I don't know why he's all bent out of shape' over 9/11 victims' fundThe Senate majority leader says he can’t understand why the former “Daily Show” host is angry over the handling of health care funding for 9/11 victims.



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