President Announces Completion of Deal to Raise Debt Ceiling
President Obama announced late Sunday evening that a deal to raise the debt ceiling had been reached by the White House and House Republican Leadership. Senate Majority Leader Harry Reid indicated that he had signed off on the agreement and said that a vote Sunday evening on the proposal was possible in the Senate. It remains to be seen if rank and file Republicans will approve the deal. Specifics of the deal are still being released. The original increase in the debt ceiling would total around $900 billion while cutting approximately $1 trillion in spending over the next 10 years. These cuts would include cuts to "discretionary" programs that receive funding through annual appropriations bills. Cuts to Medicare, Medicaid, and Social Security are not currently included as part of the deal. A bi-partisan, bi-cameral congressional committee would then be formed and tasked with finding an find an additional $1.5 trillion in savings to the deficit over 10 years. These savings may include tax modifications, cuts to discretionary spending, and cuts to mandatory programs such as Medicare and Social Security. While it appears from the current information available that cuts to the rural health care safety net are not included in the immediate cuts, it will remain important for NRHA members to continue to voice their support for funding for rural facilities and rural programs. To find information on how to contact your Member of Congress to express your support of the rural health care safety net, please visit the NRHA homepage. If you have any questions on these negotiations or this plan, please contact Maggie Elehwany or David Lee of NRHA Government Affairs at (202) 639-0550.