Big Bucks

" More and we are getting a little bit more details through this CBO report that is out it is hard to read on a consistent basis but the -- At least if you're pushing healthcare reform and pushing the kind of reform that the Senate health care of the Senate Finance Committee would like. Seems to be favorable on that is that the CBS saying. That this would reduce the federal budget deficits by -- 81 billion dollars. Over the 2010 through 2019. Period now the this estimate does include. About 118 billion over ten years of the proposed expansions. In insurance coverage in the added cost of -- premium coverage are gonna tax added up to 40%. Well there -- any dells cause but looking at how those credits say that that's when they come with this 81 billion dollar savings. Furthermore when they add a lot of this up over that the -- ten years the CBO estimates would save thwarted four billion over ten years. And other provisions that they say that the joint committee on taxation has. Would actually increase federal revenues during that period to get you to these savings. I know -- someone like him giving a lot of probably do care my knee jerk -- read. On this is that the CBO is saying. That this will do its job that this will be. In the net. Deficit neutral and in fact save some money. In the longer term now the devil's in the details and I apologize but my -- about where we're going through these details. And that's where a lot of the problems -- date. Max Baucus is going to be. Reviewing this to the Senate Finance Committee. See this is his -- by the way he needs a good report card on it in order to get moving on this on -- we're gonna have a big vote on this just within the committee. Tomorrow. That has been delayed until at least next week. Part of statewide could be that they just need more time to examine the very numbers on examining -- trying to relate to you now. But they have put that off for another week or so. Now senator Amy -- from Minnesota joins us. The -- there -- senator thank you very much and I apologize brings me on again for rambling through those numbers it if I'm reading these -- first plus correctly senator. The CBO seems to be saying Max Baucus we think you're okay witness would it would use."

" Well the Senate bill the Senate has been focused from the beginning on cost reductions certainly being from Minnesota which -- a low cost high quality health care state with the Mayo clinic. That's been my focus from the beginning how can we get that high quality care but still brings some of these cost them. And so it is good news that it scores at eighty billion dollar savings over ten years that's pressure."

" This of course comes on the heels and -- Taxation committee report that says. -- all their 29 billion dollars in added taxes on. You know device makers and health care providers. Some of them very big I think Guidant in your state that would be affected by this and among others you and and your colleague -- Franken have. Expressed some alarm at that. If if they were still included senator. Would you vote for this package."

" How we have to see a reduction in that medical device tax or an elimination of it. Let me explain the market here. I have a new estimates have come out showing that the tax on medical devices 38 billion dollars over ten years. You contract that the pharmaceuticals which is coming in at around 22 billion get pharmaceuticals they're slice of the market is twice that of medical devices and you add to that -- medical devices tend to be used by older people well older people tend to already have insurance that's Medicare. And so pharmaceuticals actually stand to ride the wave of the new customers that will come in as a result."

" You think they're being unfairly -- now if that's still in there -- there -- there. And and all of these revenue -- whatever are in there would you -- now."

" Well. I would say no at this point but let me tell you this I am very hopeful that we are going to be able to bring that down. So that there's an even playing field for medical device I really am it's not just me an Al Franken it's also people I. Evan Bayh and Dick Lugar Dianne Feinstein Barbara Boxer Jerry Brown. Maria -- there is -- lot of focus across the board John Kerry. I that this -- that this tax is too high so I don't think that that in the end. Is something. And that should stop us from bringing countered America because I believe we're going to be able to work that I we have to medical devices line. Industry that's actually producing jobs in Minnesota it's starting to. And all of our country and -- it's starting to export. Their products to other countries it's high quality jobs -- apple wanna keep them here in America senator always Missouri residents aren't very good aliens."