Task Force To Address Problems With Financial Stability Of Entitlement Programs

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2007-09-19 12:44

Financial Stability Of Medicare

Senate Budget CommitteeChair Kent Conrad (D-N.D.) and ranking member Judd Gregg (R-N.H.) onTuesday introduced a bill that would require the next Congress toaddress problems with the long-term financial stability of Medicare andother entitlement programs, CQ Today reports. Thelegislation would establish a bipartisan, 16-member task forcecomprised of lawmakers and Bush administration officials that wouldmake recommendations to address the issue by Dec. 9, 2008.

Thetask force would include 14 lawmakers; the secretary of the Departmentof Treasury, who would chair the committee; and a second administrationofficial selected by the president. Recommendations from the task forcewould require approval by at least 12 members.

Under the bill,lawmakers would have to introduce the recommendations as legislation inthe next Congress, and both the House and Senate would have to considerthe legislation after they reconvene in January 2009. Lawmakers couldnot amend the legislation, which would require a three-fifths majorityto pass in both the House and Senate.

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