Washington Panorama
February 2004
Tauzin Will Quit Chairmanship and Retire from House
W. J. “Billy” Tauzin (R-La.) was one of the authors of the Medicare prescription drug bill. As you recall, that bill was approved at the end of last year. The Medicare bill included provisions expected to expand the market for prescription drugs among Medicare recipients. This law also bars the federal government from directly bargaining down the price of drugs.
Tauzin informed Speaker J. Dennis Hastert (R-ILL) on February 3rd that he would quit the Chairmanship of Energy and Commerce Committee effective February 16th. He is expected to leave the house before his term expires this year.
Tauzin has been offered to head the Pharmaceutical Research and Manufacturers of America (PhRMA), the trade group that represents drug giants such as Merck & Co. and Pfizer Inc.
A public interest group (Public Citizen) has called for an ethics investigation of Tauzin.
Administration Increases Estimated ost of Medicare D Plan
The Bush administration estimates that the cost of the new Medicare prescription plan will total at least $530 billion over a 10-year period. That estimate is 1/3 or $134 billion more that the White House and Republican leaders advertised when the bill was approved at the end 2003.
Jobless Workers Exhaust Unemployment Benefits
More than 375,000 jobless workers will run out of unemployment benefits this month and an estimated 2 million workers will lose coverage in six months. Republicans have blocked attempts by Democratic lawmakers to extend benefits.
Federal Budget Deficit
The Congressional Budget Office estimates this year’s federal budget deficit will rise to $477 billion.
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