Senate Dems Moving Ahead On Crucial Health Vote

Both the House and Senate bills would set up new purchasing marketplaces called exchanges where self-employed or uninsured individuals and small businesses could shop for insurance, including the choice of a new government insurance plan.

Both pieces of legislation would rely on more than $400 billion in cuts to Medicare over 10 years to pay for them. The Senate would tax high-cost insurance plans, drug companies and elective cosmetic surgery and raise the Medicare payroll tax on income over $200,000 per year for individuals and $250,000 for couples. The House approach would raise income taxes on the highest-earning individuals and households.

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