Max Baucus: “I first wish to correct the record. I stated earlier that if the Menendez provision is triggered, the 1099 repeal will…”

“I first wish to correct the record. I stated earlier that if the Menendez provision is triggered, the 1099 repeal will not go into effect. That is not correct. What I meant to say is if the Menendez provision is triggered, then the new true-up rules in H.R. 4 will not go into effect. That is an important distinction. No matter what the result, 1099 will, in fact, be repealed. That is the main point. I commend all Senators, including Senator Johanns and others, who want to repeal 1099. It is very much the view of this body--I, myself, want to repeal 1099, but I also think the provision offered by Senator Menendez is an improvement on repeal, even though repeal will actually go into effect. I will also say that there are a lot of statistics bandied about regarding health care reform. The Fidelity company does an analysis of how much it costs people age 65 and older to pay for their health care. That is their premium cost as well as their insurance costs or out-of- pocket costs. Fidelity company has just concluded in the last week or so that as a consequence of health care reform, the number of dollars that seniors will have to pay for health care will actually be lower-- not higher, but lower--than what it otherwise would be on account of passage of that bill. Budget Proposal I want to say a couple words about the budget proposal offered by the House, the Ryan budget proposal. It is important for people to know what is in that budget. What is in it basically?…”