New fiscal hurdle for health care reform

July 16, 2009

After numerous fits and starts, the issue of health care overhaul took off this week, with House leaders introducing their preferred approach and the Senate panel created to looks at the issue also coming up with a plan.

Now, however, the person in charge of determining the costs of legislation says the revamp efforts being discussed now could make things worse.

Elmendorf2 Congressional Budget Office Director Douglas Elmendorf testified before a Senate committee today that the bills now being considered on Capitol Hill do not propose the fundamental changes
needed to significantly reduce current federal health
spending trends.

In fact, the Washington Post reports that Elmendorf believes that "instead of saving the federal government from fiscal catastrophe, the
health reform measures being drafted by congressional Democrats would increase rather than reduce public spending on health care, potentially
worsening an already bleak budget outlook."

Despite holding a majority in both the Senate and House, Democrats are not not united on just how to provide health coverage for all Americans, particularly the almost 46 million uninsured individuals. Elmendorf's position is not going to help the party as it works to get legislation through Congress.

One of the steps that Elmendorf says needs to be taken is ending or limiting the tax-free treatment of
employer-provided health benefits, a topic that already has divided lawmakers.

So while some on Capitol Hill were hoping to have a health care measure completed before the August recess, Elmendorf's warnings could prompt opponents of the legislation in both parties to increase their efforts to halt or at least slow it down.

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We made it. Tax Day 2025 is finally over. For most of us. When the filing season started on Jan. 26, millions who were expecting refunds filed immediately. Most of us got our returns to the Internal Revenue Service by April 15. But plenty of taxpayers also got extensions. They are looking at an Oct. 15 filing deadline.

Those procrastinating filers aren’t a problem. In fact, the IRS appreciates taxpayers who take time to fill out their 1040 forms correctly. It also is grateful that tax submissions are spread out a bit, especially now that the IRS is a leaner agency. Processing returns is easier when they arrive throughout the year instead of in massive bunches.

But enough about Uncle Sam’s tax collection issues. The focus now is on all y’all who filed for extensions, giving you another six months to complete your return. Since your new mid-October due date will be here before you know it, let’s get started now on meeting it.

The ol’ blog is here to help you finish up your extended Form 1040. You can start with January’s tax tips page, which has links to the rest of the year’s tips by-month collections. You also can peruse various tax categories for more tailored advice by clicking on the More Tax Posts drop-down menu at the top of this (and every) page.

And to make sure you don’t miss your new filing deadline, the count-down clock below will let you know just how much time you to file by Oct. 15. At the latest.e. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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