January 27, 2010

FINISHING THE OWNERSHIP SOCIETY:

Rep. Paul Ryan to introduce alternative to health care and spending (Alex Pappas, 1/27/10, The Daily Caller)

Rep. Paul Ryan is re-introducing legislation in Congress today — amid criticism that his is ‘a party of no’ — to offer Republican alternatives to health care and spending the same day President Barack Obama will deliver his State of the Union address to Congress. [...]

Highlights of the plan, according to the release:

Health Care
• Provides a refundable tax credit — $2,300 for individuals and $5,700 for families — to purchase coverage in any state, and keep it with them if they move or change jobs.

• Allows Medicaid recipients to take part in the same variety of options by using the tax credit to purchase high-quality care.

Medicare
• Establishes and fully funds Medical Savings Accounts for low-income beneficiaries to cover out-of-pocket costs, while continuing to allow all beneficiaries, regardless of income, to set up tax-free MSAs.

Social Security
• Offers workers under 55 the option of investing over one third of their current Social Security taxes into personal retirement accounts, similar to the Thrift Savings Plan available to federal employees.

Posted by Orrin Judd at January 27, 2010 8:55 PM
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