Health care reform passes

The House passed the Senate version of health care reform last night 219-212, with every single Republican voting against the measure.  The Senate bill goes to Obama's desk for his signature (a guarantee) and we finally join the ranks of every other industrialized country in providing health care for nearly every citizen.

Here's what's in the bill.

The process isn't completely played out yet, because the House also passed a reconciliation bill that adds a few improvements to the Senate's health care bill.  This reconciliation will have to be approved by the Senate, and then (if amended) go back to the House before hitting Obama's desk.  This bill includes:

• A smaller price tag
• More generous subsidies to low-income Americans
• A new 3.8 percent tax on unearned income (things like interest, dividends and royalties)
• A higher Medicare tax for families making more than $250,000 (and individuals with incomes over $200,000).
• The "Cadillac tax" on very good health insurance plans would have a higher cutoff and be implemented later (2018). 
• Closes the Medicare prescription drug donut hole
• Several provisions to reduce Medicare fraud and waste

You can also see a 7-page summary of the reconciliation bill here.