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Daily Archives: March 13, 2012

Updated Estimates for the Insurance Coverage Provisions of the Affordable Care Act

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Updated Estimates for the Insurance Coverage Provisions of the Affordable Care Act, March 2012

  • “In preparing the March 2012 baseline budget projections, the Congressional Budget Office (CBO) and the staff of the Joint Committee on Taxation (JCT) have updated estimates of the budgetary effects of the health insurance coverage provisions of the Affordable Care Act (ACA). That legislation comprises the Patient Protection and Affordable Care Act (Public Law 111-148) and the health care provisions of the Health Care and Education Reconciliation Act of 2010 (P.L. 111-152). The insurance coverage provisions of the ACA establish a mandate for most legal residents of the United States to obtain health insurance; create insurance “exchanges” through which certain individuals and families may receive federal subsidies to substantially reduce the cost of purchasing health insurance; significantly expand eligibility for Medicaid; impose an excise tax on certain health insurance plans with relatively high premiums; establish penalties on certain employers who do not provide minimum health benefits to their employees; and make other changes to prior law. CBO and JCT now estimate that the insurance coverage provisions of the ACA will have a net cost of just under $1.1 trillion over the 2012–2021 period—about $50 billion less than the agencies’ March 2011 estimate for that 10-year period…”

    • 100 Groups Ask EPA to End Wildlife Poisoning From Lead Hunting Ammunition

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    News release: “One hundred organizations in 35 states today formally petitioned the Environmental Protection Agency to regulate toxic lead in hunting ammunition to protect public health and prevent the widespread poisoning of eagles, California condors and other wildlife. Up to 20 million birds die each year from lead poisoning after consuming spent lead shot and… Continue Reading

    New GAO Reports – Navy Small Boats, DOE Loan Guarantees, Financial Management Systems, Renewable Energy

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    Navy Small Boats – Maintenance Report Addressed Most Directed Elements, but Additional Information Needed, GAO-12-421, Mar 13, 2012 DOE Loan Guarantees – Further Actions Are Needed to Improve Tracking and Review of Applications, GAO-12-157, Mar 12, 2012 Financial Management Systems – Status of OMB’s Review of Financial System Projects, GAO-12-184R, Feb 8, 2012 Renewable Energy… Continue Reading

    CBO Releases Updated Budget Projections for Fiscal Years 2012 to 2022

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    “As it usually does in March, CBO has updated the baseline budget projections that it released in January. The new baseline projections incorporate the budgetary effects of recently enacted legislation and updated technical assumptions based on new information (such as data about spending and revenues so far this year and program details released in conjunction… Continue Reading

    Federal Reserve announces summary results of latest round of bank stress tests

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    News release: “The Federal Reserve on Tuesday announced summary results of the latest round of bank stress tests, which show that the majority of the largest U.S. banks would continue to meet supervisory expectations for capital adequacy despite large projected losses in an extremely adverse hypothetical economic scenario. The Federal Reserve in the Comprehensive Capital… Continue Reading

    Report – 10.4 Billion Trips Taken On U.S. Public Transportation In 2011

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    News release: “According to a report released today by the American Public Transportation Association (APTA), Americans took 10.4 billion trips on public transportation in 2011, the second highest annual ridership since 1957. Only ridership in 2008, when gas rose to more than $4 a gallon, surpassed last year’s ridership. With an increase of 2.3 percent… Continue Reading

    China’s Banking System: Issues for Congress

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    China’s Banking System: Issues for Congress, Michael F. Martin, Specialist in Asian Affairs, February 20, 2012 “China’s banking system has been gradually transformed from a centralized, government-owned and government-controlled provider of loans into an increasingly competitive market in which different types of banks, including several U.S. banks, strive to provide a variety of financial services.… Continue Reading

    Macondo Well-Deepwater Horizon Blowout: Lessons for Offshore Drilling Safety

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    Follow up to previous postings on the Deepwater Horizon Spill, “The blowout of the Macondo well on April 20, 2010, led to enormous consequences for the individuals involved in the drilling operations, and for their families. Eleven workers on the Deepwater Horizon drilling rig lost their lives and 16 others were seriously injured. There were… Continue Reading

    CDC – 75 Years of Mortality in the United States, 1935–2010

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    75 Years of Mortality in the United States, 1935–2010, Donna L. Hoyert, Ph.D., CDC/National Center for Health Statistics, March 2012 “A 75-year perspective points to both stability and change in the leading causes of death: stability because three causes (heart disease, cancer, and stroke) remained among the five leading causes each year between 1935 and… Continue Reading