House Panel OKs SCHIP Bill That Includes Medicare Cuts

Members of the House Ways and Means Committee voted 24-17 to approve H.R. 3162, the Children’s Health and Medicare Protection Act.

The bill would increase State Children’s Health Insurance Program funding to an average of $12 billion per over the next 5 years, from $5 billion today, by increasing tobacco taxes and reallocating some money now set to go to the Medicare Advantage program.

President Bush is supporting efforts to increase SCHIP spending to $6 billion per year and has threatened to veto H.R. 3162 if it reaches his desk.