Merged Health Bill With Public Option, Tax Hikes Set for Release

Legislation revamping the nation's health care system and funded in part with a tax increase on high-income earners will be unveiled today, House Democratic leaders say. The legislation—a merger of three bills approved earlier this summer by the Ways and Means, Energy and Commerce, and Education and Labor committees—will include a public insurance option with negotiated provider payment rates. The main revenue raiser is a surtax on households earning more than $500,000 per year.