The Senate Finance Committee is set to vote Tuesday on a health care bill that has gained preeminence over four other health care bills that have emerged from House and Senate committees. The Senate Finance bill does not include a public insurance option to compete with private insurers. Nor does it allow Medicare to use its bargaining power to negotiate lower drug prices.
Under the Finance Committee bill, Americans would be required to buy corporate health insurance or pay an “excise tax” of $1,900. If you don’t pay that tax, the IRS could punish you with a $25,000 fine or up to one year in jail, or both. Read that again.