Snowe Secures Key Health & Tax Provisions in Senate Finance Committee Stimulus Package
Initiatives Will Help Maine Weather Economic Storm
January 28, 2009
Washington, D.C. - U.S. Senator Olympia J. Snowe (R-Maine) voted to advance the Senate Finance Committee’s portion of the economic stimulus package which was approved late last night by a vote of 14 to 9. Senator Snowe, a member of the Committee, worked with Senate leaders and the Obama Administration to include key health and tax provisions aimed to help communities in Maine and throughout the rest of the country.
"The fact is, the pervading sense of economic uncertainty about the road that lies ahead has affected every American across regions, generations, and incomes in our nation," said Senator Snowe, who directly met and spoke to President Obama yesterday regarding the stimulus package. "A second stimulus package, must first and foremost, strengthen the social safety net to better protect Americans at risk and replenish the jobs we have lost by creating new ones for both the short and long-term. We must simply begin to restore confidence among the American people in the future of our economy."
Since 2001, Senator Snowe has worked to transform health care to reduce costs and improving care by helping health care providers - particularly those serving Medicare and Medicaid patients – to adopt information technology. Recognizing the critical need of bringing our health care system from the pen and paper age into the electronic age, Senator Snowe worked with her colleagues on the Committee to include $28 billion for adoption of Health Information Technology by providers.
During the Committee markup Senator Snowe noted, "This provision will not only result in $10 billion in savings, but also further improvements in care and costs as we implement health care reform, while creating over 40,000 new jobs that will endure."
Additionally, Senator Snowe fought to secure critical funding to address the growing Medicaid burden faced by states, including Maine. As economic conditions cause more Americans to rely on Medicaid, state Medicaid funds are being rapidly depleted. The legislation provides $87 billion for Federal Medical Assistance Percentages (FMAP) so that states can better meet these essential health care needs during challenging economic times. As a result of this provision, the state of Maine is estimated to receive up to $420 million in additional federal Medicaid assistance. In addition to securing much-needed Medicaid money for Maine, Senator Snowe insisted on language in the bill to ensure that states direct funds to existing Medicaid programs and health care providers [hospitals, doctors, nursing homes] promptly, in order to avoid layoffs or denial of care.
"With states looking at combined budget "gaps" of $350 billion over the next two years and the resulting, profound national impact on our overall economy, I believe this increased FMAP funding is warranted and will certainly go a long way toward strengthening health care services in Maine," said Senator Snowe, a member of the Health Subcommittee. "I am also delighted the Chairman included my prompt payment provision, as delays in payments to providers can threaten their continued operation, and limit their ability to invest in new technology and hire new employees."
In addition, to her health care initiatives, Senator Snowe championed several key job-creating provisions that were incorporated in the measure including: small business expensing to provide firms more rapid write-offs for making job-creating investments; the tax-free treatment of unemployment insurance benefits to help displaced workers, and additional funding to expand the New Markets Tax Credit which has a proven track record of boosting economic development and creating jobs in rural areas in Maine and throughout the rest of the country, to name a few.
To view a full list of Senator Snowe’s provisions in the Senate Finance Committee package visit: www.snowe.senate.gov
-###-
|
