Statement of Senator Max Baucus (D-Mont.) Regarding the Manager’s Amendment to the Patient Protection and Affordable Care Act

Senate Finance Committee Chairman Max Baucus (D-Mont.) made the following statement today at press conference to discuss the Manager’s Amendment to the Patient Protection and Affordable Care Act.

“We came to the floor with a good bill. It is the product of years of hard work, study and debate in both the Finance and HELP committees. Our bill is fully paid for and will reduce the national debt. It will protect consumers from harmful insurance company practices. It will provide billions in tax cuts to help working families and small businesses afford quality health insurance – the largest tax cut Congress will have passed since 2001. And it will extend insurance coverage to more than 30 million Americans and drive down premium costs for all of us.

“The Manager’s Amendment introduced today by Leader Reid makes this good bill even better. It will provide even more consumer protections against harmful insurance industry practices. It will hold companies accountable for excessive increases in premium rates and require them to spend more on consumer benefits and less on administrative costs and profits. It will impose tight restrictions on the limiting of annual benefits. It will ensure companies cannot discriminate against children with pre- existing conditions – and do so right away in 2010. It will provide tax credits to even more small businesses -- and it will provide them right away in 2010. It will provide more health insurance choices through a new, multi-state option that will offer consumers the same health insurance that Congress has today. And it will ensure even more access to quality health care for America’s children and seniors through Medicare and the Children’s Health Insurance Program.

“I look forward to a full and healthy discussion on this amendment and to working with my colleagues to pass quality health care reform in the coming days.”

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