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Normally, the FDIC would assess a special onetime fee to banks to raise the money it needs for its fund. But bank executives have been saying that any additional payments they have to make to the FDIC above their normal quarterly bill would force them to cut lending. Special assessments have to be recorded as a cost when they are paid to the FDIC, which reduce bank earnings and capital. It was a capital crunch that caused the financial crisis in the first place. (See pictures of the global financial crisis...
Obama’s desire to expand school hours and days, in combination with the economic stimulus bill, provides a unique opportunity for American education to adopt such enrichment courses. If the president’s scheduling plans come to fruition, schools would no longer face an either-or decision, where providing time for arts and sports comes at the cost of academic instruction. Since the stimulus bill includes an education component totaling more than $125 billion, funding for this additional class time seems plentiful. Districts that have failed historically in their attempts to implement arts and sports programs could...
Rockefeller's frustration was apparent not just because his constituents badly need health-care reform - 16% of West Virginians are uninsured - but also because his amendment to the Senate Finance Committee's current health-reform bill was doomed to fail. It was voted down, 15 to 8, with five Democrats - including committee chairman Max Baucus - joining all 10 Republicans on the committee in opposition. Baucus, who agrees with Rockefeller that a public option would save the Federal Government money and lower costs for consumers, nonetheless believes that a bill with such an option will not garner enough support to overcome...
...option amendment offered by New York Senator Charles Schumer called for negotiated reimbursement rates - in contrast to Rockefeller's amendment, which would have pegged reimbursements to Medicare rates for the first two years - and as a result garnered support from two Democrats whose position was not previously known, Senators Bill Nelson and Thomas Carper. It still failed, 13 to 10, but the new tally indicated that there may be some room to negotiate with wary Democrats on the structure of a public option. The Senate Finance Committee is one of five in Congress with jurisdiction over health care; bills from...
...House, where many conservative Blue Dog Democrats have said they will not vote for a bill that contains a public option, wrangling over the proposal is not quite so public. House Speaker Nancy Pelosi is in the process of merging bills from the three committees there with jurisdiction over health care, and the design of the public plan is one of the sticking points. The original version of the House bill contained a public option that would have set its reimbursement rates above, but still tied to, Medicare rates. But an amendment that passed in the House Energy Committee would...