Did you miss this week's issue of NTUF's Taxpayer's Tab? If so, here's a quick recap.
Senator Bernie Sanders (VT) wants to end drug patents. He believes that patents limit access and raise prices. Instead of allowing private firms to reap the benefits of the R&D work that their patents represent in the marketplace, Sanders' bill, S. 1137, would create the Medical Innovative Prize Fund Act. S. 1137 defines the proper funding level for the new system at 0.55 percent of Gross Domestic Product (GDP) for the preceding fiscal year. For example, $94 billion would be deposited into the Fund if it were in operation for FY 2013. The federal government would fund the initial start-up of the Fund with public dollars; however a new fee would be imposed on health insurance providers to sustain the Fund over the long-term.
Using GDP projections listed in CBO's recently released Budget and Economic Outlook, NTUF estimates that S. 1137 would result in $504 billion in new spending for the first five years. S. 1137, is the "Most Expensive Bill of the Week."
Other Tab highlights include: H.R. 1901, Saving America's Youth: the Youth Employment Act (SAY YEA) of 2011. Congressman Bobby Rush (IL-1) introduced H.R. 1901 to combat youth unemployment. SAY YEA would establish state employment and on-the-job training programs for both jobless youth and Americans otherwise unemployed. H.R. 1901 is this week's "Wildcard."
The "Least Expensive Bill of the Week" is S. 1376, a bill to conform income calculations for purposes of eligibility for the refundable credit for coverage under a qualified health plan and for Medicaid to existing federal low-income assistance programs. Introduced by Senator Michael Enzi (WY), S. 1376 would change how the federal government calculates income for the purposes of determining an individual's eligibility for certain government health care programs. The bill would reduce the number of individuals eligible for Medicaid and the government health insurance exchanges.
The "Most Friended" bill -- or bills in this case -- are H.R. 91/H.R. 2417/S. 395, Better Use of Light Bulbs Act. Congressman Joe Barton (TX-6) and Senator Michael Enzi (WY) introduced the Better Use of Light Bulbs Act to repeal restrictions place on incandescent light bulb that were a part of The Energy Independence and Security Act of 2007.
For more details, including NTUF's preliminary cost estimates for each of these bills, read the entire Taxpayer's Tab online.
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