Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
ThinkAdvisor

Life Health > Health Insurance > Health Insurance

Lawmaker%3A Spend Drug Funding On Gulf Coast

X
Your article was successfully shared with the contacts you provided.

Congress could come up with some money for rebuilding communities hit by Hurricane Katrina by postponing the rollout of the new Medicare prescription drug benefit program.[@@]

Rep. Mike Pence, R-Ind., says the federal government needs to cut spending on what he calls “big ticket items” to offset the cost of rebuilding the Gulf Coast.

Congress “can’t allow a catastrophe of nature to become a catastrophe of debt for our children and grandchildren,” Pence said Sunday on a morning news show on ABC.

House Republicans estimate killing the Medicare drug benefit, which is set to take effect in 2006, could save $40 billion per year.

House Republicans also are looking hard at items to cut from a new $286 billion federal highway bill.


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.