Republican Rep. Paul Ryan (Wis.) is preparing to release a revised budget proposal after his original plan to reduce the deficit faced steep opposition due to its cuts to Medicare, according to a Los Angeles Times report.
Rep. Ryan, the House Budget Committee chairman, will offer a different approach to changing Medicare and will also include tax cuts for the wealthy in his new proposal. His original plan would have replaced Medicare's guarantee of medical coverage over time with a plan that would give seniors a fixed amount of funds to buy their own health insurance.
Under his new version, seniors would still receive a fixed amount of money and could still buy their own insurance, but would have the option of using the funds to instead remain in the traditional Medicare program, paying out of pocket for costs that go beyond the subsidy.
While Sen. Ron Wyden (D-Ore.) is expected to back the new Medicare provision, it is unlikely he will support the rest of the budget, according to the report. Most Democrats oppose Rep. Ryan's plan because of the increased costs to seniors, while some Republicans say the cuts don't go far enough, according to the report.
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Rep. Ryan, the House Budget Committee chairman, will offer a different approach to changing Medicare and will also include tax cuts for the wealthy in his new proposal. His original plan would have replaced Medicare's guarantee of medical coverage over time with a plan that would give seniors a fixed amount of funds to buy their own health insurance.
Under his new version, seniors would still receive a fixed amount of money and could still buy their own insurance, but would have the option of using the funds to instead remain in the traditional Medicare program, paying out of pocket for costs that go beyond the subsidy.
While Sen. Ron Wyden (D-Ore.) is expected to back the new Medicare provision, it is unlikely he will support the rest of the budget, according to the report. Most Democrats oppose Rep. Ryan's plan because of the increased costs to seniors, while some Republicans say the cuts don't go far enough, according to the report.
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