In it, but not of it. TPM DC

Feingold: Thank Obama For The #Publicoptionfail

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Newscom / PATRICK D. MCDERMOTT

I've been fighting all year for a strong public option to compete with the insurance industry and bring health care spending down. I continued that fight during recent negotiations, and I refused to sign onto a deal to drop the public option from the Senate bill. Unfortunately, the lack of support from the administration made keeping the public option in the bill an uphill struggle. Removing the public option from the Senate bill is the wrong move, and eliminates $25 billion in savings. I will be urging members of the House and Senate who draft the final bill to make sure this essential provision is included.

But while the loss of the public option is a bitter pill to swallow, on balance, the bill still delivers meaningful reform, and the cost of inaction is simply too high. This bill significantly expands coverage and helps protect Wisconsinites from high costs and insurance company abuses, such as denying or restricting coverage based on pre-existing conditions. The bill also improves a flawed Medicare formula that denies Wisconsin fair reimbursement rates, encourages the kind of low-cost, high-value care practiced in our state, increases access to home and community-based long-term care, and reduces federal budget deficits by $132 billion over the next decade.

About The Author

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Brian Beutler is TPM's senior congressional reporter. Since 2009, he's led coverage of health care reform, Wall Street reform, taxes, the GOP budget, the government shutdown fight and the debt limit fight. He can be reached at brian@talkingpointsmemo.com