Senate Finance Committee

The Senate Finance Committee, whose members have been negotiating a bipartisan proposal behind the scenes this week left Thursday for the July Fourth recess without a deal, although Senate Finance Chairman Max Baucus said he has developed policy to pay for legislation that would cost less than $1 trillion over 10 years.

According to Congressional Quarterly, Baucus said the bill’s cost would be offset, in part, by taxing some employer-sponsored health benefits, something that makes the White House and many lawmakers in both parties uneasy. Nonetheless, limiting the bill’s spending to $1 trillion is a significant step for the Finance Committee, which has been seen as the main arena for those hoping to get a bipartisan health care bill.

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