WASHINGTON — A major deal struck between House Speaker John Boehner (R-OH) and Minority Leader Nancy Pelosi (D-CA) to overhaul Medicare appeared to win President Barack Obama’s endorsement on Wednesday.
“As we speak Congress is working to fix the Medicare-physician payment system. I’ve got my pen ready to sign a good bipartisan bill, which would be really exciting,” he said in a speech about Obamacare at the White House. “I love when Congress passes bipartisan bills that I can sign. It’s always very encouraging.”
The presidential endorsement could sway enough Senate Democrats, who have emerged as a potential obstacle, to support the agreement.
“We’re just looking at it now,” Sen. Chuck Schumer (D-NY) said moments before Obama’s remarks Wednesday. “We’ll see where we come out.”
The deal would end the perennial “doc fix” problem by replacing a formula that imposes steep annual cuts to Medicare physician payments. The package would also cut Medicare benefits for higher-income seniors and reduce spending on supplemental “Medigap” plans. It would extend the Children’s Health Insurance Program for two years.
If the legislation passes both chambers, it would amount to the most sweeping health care overhaul since Obamacare.
It is slated for a House vote on Thursday.
