Opens in a new tab

Tax reform’s lesson for health care

August 30, 2009

"Whenever Congress undertakes large-scale reform, there are times when
disaster appears certain — only to be averted at the last minute by the
good sense of its sometimes unfairly maligned members."

That's the assessment of Bill Bradley, a former U.S. Senator from New Jersey, as well as a former tax loophole for the New York Knicks.

In a New York Times' op-ed, Bradley notes how his time as an NBA depreciable asset helped in the 1986 passage of the historic tax reform measure.

Twenty-three years later, Representatives and Senators need to find similar creative but effective legislative ways for Democrats and Republicans to reach an agreement on health care reform.

I was working on Capitol Hill in 1986. I remember the dissension and partisanship, but I also remember how lawmakers were able to put a common goal above their political bickering and, more importantly, compromise.

A possible give-and-take in the health care debate, says Bradley, is combining universal coverage Democrats want with medical malpractice tort reform that's on the Republican wish list.

"The August recess has given each party and its constituencies a chance
to reassess their respective strategies," writes Bradley. "One result, let us hope, may
be that Congress will surprise everyone this fall."

Share:

The More Tax Posts tab at the top of this page will take you to, well, more tax posts. You also can search below for a tax topic. 

Latest Posts
confused office worker
8 workplace benefits questions to ask this enrollment season

October 26, 2026

Millions of U.S. workers are now deciding what workplace benefits, some of which also offer…

Read More
TAX-SAVVY WAYS 
TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

Comments
  • Pam Baggett

    Texas has had med mal “reform” for more than five years. It has done NOTHING to lower health care costs or insurance rates. One positive is that physicians moved to Texas to avoid med mal rates in their states. One can only wonder at the law suits filed against them before moving here. A bad thing: It included nursing homes and assisted living centers. Since the tort reform limited “non-economic damages” to $250,000 per facility and/or doc. Obviously, the elderly do not have earnings or services they provide in the household. For chain nursing home corporations, $250,000 is chump change. It’s less than their top officers earn in a year.
    So hear me people: tort reform does not reduce healthcare cots nor insurance rates!

Leave your comment