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Profile: Blanche Lincoln

Blanche Lincoln was a participant or observer in the following events:

A proposal by two Senators, Jon Kyl (R-AZ) and Blanche Lincoln (D-AR), to cut $250 billion in estate taxes for the children of multi-millionaires, garners what progressive think tank the Center for American Progress calls “a disturbing amount of support.” The New York Times writes that for Kyl and Lincoln: “[T]he most pressing [economic] issue is clear: America’s wealthiest families need help. Now.” The Kyl-Lincoln proposal would raise the estate tax exemption from $7 million to $10 million per couple and lower the top rate from 45 percent to 35 percent. Kyl, Lincoln, and other supporters say the estate tax cuts would protect small farms and businesses. This claim is refuted by the Center on Budget and Policy Priorities, which notes that “only 0.2 percent of the additional cost of the proposal, relative to [the Obama proposal for estate taxes], would go toward tax cuts for small businesses and farms.” Around $249.5 billion of that money would go to the inheritors of estates worth over $7 million. According to both the Times and the Center for American Progress, less than 0.3 percent of Americans would pay estate taxes under Obama’s proposal; only those households worth over $7 million. The Times observes: “In addition to creating the false impression that the estate tax eventually hits everyone—by mislabeling it a ‘death tax’—opponents routinely denounce the 45 percent top tax rate as confiscatory. In fact, the rate applies only to the portion of the estate that exceeds the exemption. As a result, even estates worth more than $20 million end up paying only about 20 percent in taxes. Another misleading argument is that the estate tax represents double taxation. In truth, much of the wealth that is taxed at death has never been taxed before. That’s because such wealth is often accrued in the form of capital gains on stocks, real estate, and other investments. Capital gains are not taxed until an asset is sold. Obviously, if someone dies owning an asset, he or she never sold it and thus never paid tax on the gain. If those arguments aren’t enough to stop the Lincoln-Kyl show, lawmakers should consider this: The estate tax creates a big incentive for high-end philanthropy, because charitable bequests are exempt.” [New York Times, 4/1/2009; Think Progress, 4/1/2009]

Entity Tags: New York Times, Blanche Lincoln, Center for American Progress, Obama administration, Center on Budget and Policy Priorities, Jon Kyl

Timeline Tags: Global Economic Crises

Max Baucus (D-MT), chairman of the Senate Finance Committee, makes several revisions to the “final” draft of the Chairman’s Mark of the America’s Healthy Future Act (AHFA, the name for health care reform legislation—see September 16-17, 2009). The “chairman’s mark” is a recommendation by a committee or subcommittee chair of measures to be considered in a markup, and is usually drafted as a bill. Baucus says in a statement: “The modifications focus largely on making care more affordable for low and middle income Americans by increasing the Health Care Affordability Tax Credit, lowering the penalties for people who fail to meet the individual requirement to have health insurance, and increasing the High Cost Insurance Excise Tax threshold for people whose basic health care is more expensive… and effectively slows the growth of skyrocketing health care costs.… This modification incorporates important ideas from my colleagues on both sides of the aisle.” According to Baucus, AHFA as it now stands will make it easier for families and small businesses to buy health care coverage, ensure Americans can choose to keep the health care coverage they have if they like, and slow the growth of health care costs over time. “It will bar insurance companies from discriminating against people based on health status, denying coverage because of pre-existing conditions, or imposing annual caps or lifetime limits on coverage.” Baucus continues to assert that AHFA will not add to the federal deficit. Some of the new provisions include:
bullet Lowering the amount that insurance companies can vary premiums based on age, ensuring that these companies cannot charge elderly clients far more than younger ones. The provision was first submitted by Senators John Kerry (D-MA) and Ron Wyden (D-OR).
bullet Providing $5 billion in additional assistance to small businesses attempting to provide coverage for their workers. The provision was first submitted by Senators Kerry and Debbie Stabenow (D-MI).
bullet Including more senior citizens in the Medicare Advantage program.
bullet Making prescription drugs more affordable for senior citizens by reducing co-payments. This provision was first submitted by Senators John D. Rockefeller (D-WV), Jeff Bingaman (D-NM), and Ben Nelson (D-NE).
bullet Improving Medicare beneficiary access to bone density tests, a provision first submitted by Senator Blanche Lincoln (D-AR).
bullet Creation of a three-year Medicare Hospice Concurrent Care (HCC) demonstration program that would provide Medicare patients eligible for hospice care with all other Medicare-covered services during the same period of time. This provision was first submitted by Senator Wyden.
bullet Improving access to Home and Community Based Services (HCBS) for low income individuals in Medicaid who are in need of long-term care, a provision first submitted by Senator Kerry.
bullet Creating nursing home alternatives for patients in need of long-term care, a provision first submitted by Senator Maria Cantwell (D-WA).
bullet Provide alternatives to nursing home care for disabled individuals on Medicaid, a provision first submitted by Senator Charles Schumer (D-NY).
bullet Improving access to mental health care for Medicaid patients, a provision first submitted by Senator Olympia Snowe (R-ME).
bullet Financial assistance for “high-need” states having difficulty paying for their Medicaid obligations, and use of surplus Medicaid funds to improve the program.
bullet Create an exemption to encourage health care beneficiaries to use generic prescription drugs by waiving co-payments, a provision first submitted by Senator Stabenow.
bullet Remove the mandate that would require states to cover all prescription drugs for Medicaid beneficiaries.
bullet Direct the secretary of health and human services to implement programs to reduce waste in the way drugs are dispensed to seniors in long term care facilities. [Senior Journal, 9/22/2009; New York Times, 9/22/2009; The Capitol (.net), 2011]

Entity Tags: Blanche Lincoln, Ben Nelson, Debbie Stabenow, Jeff Bingaman, Charles Schumer, John D. Rockefeller, America’s Healthy Future Act, Maria Cantwell, Max Baucus, Olympia Snowe, Ron Wyden, Senate Finance Committee, John Kerry

Timeline Tags: US Health Care

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