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Senate Proceeding 12-15-09 on Dec 15th, 2009 :: 2:31:05 to 2:35:55
Total video length: 4 hours 34 minutes Stream Tools: Stream Overview | Edit Time

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Max Baucus

2:30:56 to 2:31:16( Edit History Discussion )

Max Baucus: that's been nators? the presiding officer: in addition to. mr. baucus: thank you. the presiding officer: the senator from montana has five mr. baucus: so if the senator from montana wishes to speak on his amendment, he has five minutes plus two minutes? the presiding officer: five minutes plus one minute. mr. baucus: excuse me equally divided.

Max Baucus

2:31:05 to 2:35:55( Edit History Discussion )
Speech By: Max Baucus

Max Baucus

2:31:17 to 2:31:37( Edit History Discussion )

Max Baucus: thank you. mr. president, i just want to make it as clear as i can, that the congressional budget office essentially says their premiums will go down for about 93% of americans. i say that because my good friend from idaho, i think was leaving a different impression.

Max Baucus

2:31:38 to 2:32:00( Edit History Discussion )

Max Baucus: let me summarize what c.b.o. says. and i put a chart that will be provided in the record, under the senate rules, we can't put charts in the record. chart says. 70% of americans get health insurance from the large group market. that is, people work for larger employers. 70%.

Max Baucus

2:32:01 to 2:32:22( Edit History Discussion )

Max Baucus: and c.b.o. said for that 70% of americans, premiums will go down a little bit. that up to a premiums. the next group of americans who get health insurance, it's called the sll group market. that is small business. that is 13% of americans get their health insurance. c.b.o. says for

Max Baucus

2:32:23 to 2:32:43( Edit History Discussion )

Max Baucus: will be maybe premiums will go up between 1% or down 2% overall, but for those folks who get small business people who get tax credits, and there's very significant this bill, and i think they'll be even more significant when the managers' amendment is up. c.b.o. said with modest tax

Max Baucus

2:32:44 to 2:33:04( Edit History Discussion )

Max Baucus: credits those premiums will go down 8% to 11%, as 13% of americans who have insurance, those premiums will go down 8% to 11% among those w credit. look at what's called nongroup market, individual market, that's 17% of americans. for those folks, if you compare their current insurance

Max Baucus

2:33:05 to 2:33:26( Edit History Discussion )

Max Baucus: -- whathey'll have in the future, those premiums will go down 14% to 20% down, according to the c.b.o. iin addition, c.b.o. says that persons who have tax credits, we're talking about the individual market, those people will find on average their premiums will go down 56% to 59%.

Max Baucus

2:33:27 to 2:33:50( Edit History Discussion )

Max Baucus: remember, 17% americans buy insurance individually. that 17%, 10% because of tax credits in this bill will find their premiums go down 56% to 59%. the 7% remaining -- rember i said 93% reduction. the 7% remai because of better benefits their

Max Baucus

2:33:51 to 2:34:11( Edit History Discussion )

Max Baucus: premiums will go up 10% to 13%, but they'll have a lot better benefits. a lot higr quality insurance than they'll have today. frankly, my judgment is that the quality -- higher quality of insurance they have, because of this legislation, will outweigh the increase in the premiums. but anyway, 93% premiums wil down. mr. president, let me just speak

Max Baucus

2:34:12 to 2:34:33( Edit History Discussion )

Max Baucus: a little bit on my amendment which as i understand could be th first amendment voted on. remind my colleagues that this is a tax cut bill, it cuts taxes. it cuts taxes very significantly. over the next 10 years, this bill will provide americans a $441 billion tax cut to buy

Max Baucus

2:34:34 to 2:34:54( Edit History Discussion )

Max Baucus: health insurance. $441 billion in tax credits to buy health insurance. credits or tax reductions. in the year 2017, taxpayers by dz 20dz thousand to -- $20,000 to $30,000 will see an average tax cut of 30%.

Max Baucus

2:34:55 to 2:35:17( Edit History Discussion )

Max Baucus: they will see an avege tax cut of 37%. that is from the joint committee on tax. in addition two years later the average taxpayer making less than $75,000 a year will receive a tax credit of $1,500. just to repeat, the average taxpayer making less than $7,500 a year will receive a tax reduction or a tax credit of

Max Baucus

2:35:18 to 2:35:40( Edit History Discussion )

Max Baucus: more than $1,500. the crapo motion is an attempt to kill health care reform. it is to keep americans from getting these tax cuts. i think we want americans to get the tax cuts. in the crapo motion is successful, the people will not get the tax cuts. i think we should reject this procedural maneuver designed to kill tax cuts in this health

Max Baucus

2:35:41 to 2:35:58( Edit History Discussion )

Max Baucus: and that's what my side-by-side amendment says, and that is the first amendment, vote to keep the current tax cuts and i urge my -- a vote on that pos the crapo which is -- which eliminates the tax cuts that's not what i think most americans want.

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