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Special Issue:  Congress Builds Bi-partisan Bridge over Fiscal Cliff

Puts off SGR and other Pending Cuts

In a rare, 12th-hour, bi-partisan vote, the House of Representatives voted 257-167 to pass House Resolution 8: American Taxpayer Relief Act of 2012 sponsored by Representative Dave Camp (R. Michigan).  Passage by the House allows the bill to go immediately to President Obama to sign into law.  The bill eliminates scheduled tax increases for most Americans and prevents significant Pentagon and other government program spending cuts.

Why is this important to me?
Several provisions of the bill averted scheduled cuts to physician pay under Medicare and other healthcare spending, including:

• Medicare Cutbacks.  The bill also averted automatic across-the-board Medicare cutbacks, totaling some $123 billion over the next eight years.  The cuts were originally scheduled to start this month. 
  
• SGR Cuts.  The legislation rescinds the scheduled SGR cut of 26.5% and freezes the SGR Conversion Factor for the physician fee for one year.
  
• Sequestration Cut.  The 2% sequestration cut scheduled for later this week is postponed until early March when the new Congress will decide whether to move forward with sequestration or if other cuts in federal spending or higher taxes is a better idea.
  

Check out Tuesday’s Congressional Record to learn more about the bill and politics surrounding the vote.

 . . . to learn more about the impact of this legislation on your practice, contact a PBN client liaison by phone at 800.288.4901 or by email .    

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