Latest news with #WaysandMeansCommittee
CNBC
25-07-2025
- Business
- CNBC
New bill in Congress would reward companies that give stock to rank-and-file employees
A bipartisan bill introduced in Congress this week would create a new tax incentive for public companies to distribute stock to their rank-and-file employees. The new SHARE Act would give a 3 percentage point discount on the corporate tax rate to large companies that distribute at least 5% of their stock to the lowest paid 80% of employees. It is cosponsored by eleven members of the tax-writing Ways and Means Committee, both Republicans and Democrats. "The bottom line is that right now in America, the top 10% of wealthy people in the country own 93% of the stock, and the lowest 50% people in the United States of America own 1% of the stock," said Rep. Tom Suozzi, D-N.Y., a sponsor of the bill, on CNBC's Squawk Box Friday. According to Suozzi, the Share Holder Allocation for Rewards to Employees (SHARE) Plan Act, when fully implemented, could result in nearly $4 trillion in stock value being transferred to almost 40 million middle-class Americans. For the idea to work, companies would likely have to dilute, issue or buy back their shares to distribute them to employees, said Suozzi. But he argued the cost of that would be firmly offset by the 3% tax rate cut. "It's a big idea," Suozzi said. "It'll result in some initial dilution of their share price, probably, but once they get the tax rate discount, it'll result in an increase." The new bill could also incentivize employee loyalty, he added, because more workers would hold a stake in the companies that employ them. For companies with massive market caps, like Amazon or Walmart, Suozzi said they could cap the awards at $250,000 worth of stock per employee, instead of giving the full 5%, depending on which makes more sense economically for the company. The lower tax rate would be available to companies in a year where they granted at least 1% of their stock, or after they have cumulatively granted at least 5%, according to a fact sheet on the bill. The value of those distributions would be tax deductible for the companies, and the value of the stock granted to each employee would not be counted as part of that person's gross income for tax purposes. Suozzi said the bipartisan support for the bill shows how Republicans and Democrats are coming together to "stop attacking each other and start attacking the problems that we face." "We need to expand the ownership society in our country so that people who go to work every day can participate in the great success of this great country," said Suozzi.
Politico
21-07-2025
- Health
- Politico
Republicans are ready to revive stalled health care legislation. Dems want the GOP to pay a price.
He added: 'I also think it's a reminder of how [Republicans are] filing legislation to undo what they did three weeks ago. What's hilarious is they are either saying they didn't know what was in their own legislation or now they want to get away from what they voted for in their own legislation.' Neal was referring to legislation from Sen. Josh Hawley (R-Mo.) that would roll back major changes to Medicaid — which he just voted for as part of the megabill. There's been chatter for months about reviving a sweeping bipartisan health care package that was on track for passage last December as part of a larger government funding bill, but House GOP leaders dropped the health care provisions after Trump and Elon Musk said that funding bill was overly broad and threatened to tank it. A major part of the health package included proposals to crack down on PBMs, who critics accuse of charging higher prices for medications to health plans than the reimbursements they send to pharmacies, among other things. As Smith alluded to, the Ways and Means Committee is also eyeing legislation from Rep. Mike Kelly (R-Pa.) for inclusion in the new health package. Kelly's bill, which was marked up and approved by the panel last summer, would allow weight loss drugs for treatment of obesity, like Wegovy and Zepbound, to qualify for Medicare coverage. Federal law currently bans Medicare from covering drugs for weight loss, even though Medicare covers pharmaceuticals for other conditions such as heart disease. The drugs are expensive and a Biden administration plan to increase coverage of them, which Trump shelved in April, would have cost $25 billion over ten years, according to the agency that runs Medicare. Another bill sponsored by Sens. Tammy Baldwin (D-Wis.) and Susan Collins (R-Maine) — which would reauthorize a partnership between the Centers for Disease Control and Prevention and state health programs to offer free breast cancer screenings to low-income, uninsured and underinsured women — is also under consideration for that package. But Democrats are furious with Republicans for first plowing through Medicaid changes in the megabill, then passing $9 billion in funding cuts across an array of federal programs, including those related to global health initiatives. 'If we keep making progress on [appropriations] … there is a chance we can do the health care package,' Sen. Chris Coons (D-Del.) said Thursday following the Senate's vote on Trump's rescissions request. 'But that chance got worse overnight.' Coons has previously co-sponsored legislation with Sen. Roger Marshall (R-Kan.) to change how PBMs calculate health insurance deductibles. Marshall said last week that coming back to the table on bipartisan PBM legislation was 'a top priority.' But Democrats are also pointing out that Republicans are looking at policies that would reduce drug costs, and expand federal health insurance coverage of drugs, right after they stripped hundreds of billions of dollars from Medicaid.
The Hill
16-07-2025
- Politics
- The Hill
Hospital Shortages And Work Requirements: Rep. Kevin Hern (R-OK)
Rep. Kevin Hern (R-Okla.) said he has 'been called a racist' by fellow members of the House Ways and Means Committee for his support of Medicaid work requirements passed this month as part of the GOP's massive tax and spending legislation. 'I think work matters in America. I've been criticized by that — I've been called a racist because I think you should work — by members of the Ways and Means Committee,' Hern said Wednesday during an interview with NewsNation reporter Joe Khalil at the Hill Nation Summit.
The Hill
16-07-2025
- Health
- The Hill
Republican says he's been called ‘racist' by House colleagues over Medicaid work requirements
Rep. Kevin Hern (R-Okla.) said he has 'been called a racist' by fellow members of the House Ways and Means Committee for his support of Medicaid work requirements passed this month as part of the GOP's massive tax and spending legislation. 'I think work matters in America. I've been criticized by that, I've been called a racist because I think you should work, by members of the Ways and Means Committee,' Hern said during an interview with NewsNation reporter Joe Khahil at the Hill Nation Summit on Wednesday. He told Khahil that he ran on the idea that the government should get out of the way of businesses so that 'they can create jobs and put Americans to work.' 'That's what President Turmp's doing every single day, he's bringing business back to America…you create jobs so people can work, not be dependent on the government.' Republicans insist the work requirements will only impact able-bodied Americans abusing Medicaid. However, independent analysts say millions of eligible people will lose coverage due to increases in red tape under the law. Khahil also pressed Hern on his thoughts on the impact of Trump's 'big, beautiful bill' on rural hospitals. The Republican representative said he was more concerned about the impact of Obamacare, noting that work requirements won't kick in until after next year's midterms. 'Yeah, but what nobody's talking about, reporting on, is how much Obamacare destroyed the rural hospital,' he said. 'There's going to be a lot of demagoguery about this. A lot of these cuts to Medicaid, a lot of these work requirements, and others don't even go into effect until 2027,' he added. The new law cuts roughly $1 trillion from Medicaid, mainly through new work requirements and a reduction on how states can fund their Medicaid programs through provider taxes and state-directed payments. Adults between the ages of 19 and 64 will need to work at least 80 hours a month to qualify for Medicaid coverage unless they qualify for certain exemptions. Republicans did not extend enhanced ObamaCare subsidies in their megabill, meaning millions of Amerericans are set to face sky-high premiums and unaffordable coverage without legislative action. According to the Congressional Budget Office, 4.2 million Americans could lose health insurance coverage. Many Republicans aren't interested in extending them and have criticized Democrats for offering the subsidies in the first place, arguing the cost was unsustainable.
Boston Globe
08-07-2025
- Politics
- Boston Globe
Mass. Senate eyes bill to ban students from having cell phones during school day
Related : Advertisement The prohibition would include devices like cell phones, tablets, smartwatches, and Bluetooth headphones, according to the draft bill. The Massachusetts legislation would require schools to prohibit physical access to devices like phones and smartwatches, and have those policies in place before the start of the 2026-27 school year. It also directs the state's K-12 education department to provide guidance to the schools and districts guidance on the creation of such policies. The proposal includes several exemptions for students who need access to personal electronic devices, including as part of a student's special education plan, accommodations to comply with the Americans with Disabilities Act, English language learners, during emergencies, and issues related to 'school and student health and safety,' according to language of the bill. It also requires schools to have a method for parents and guardians to contact students during the school day, or for a student to reach their parent or guardian. Advertisement The measure approved by the legislature's Joint Committee on Education has the support of Senate President Karen Spilka. In a joint statement with Senator Jason M. Lewis, the senate chair of the committee, Spilka and Lewis hailed the vote. 'The cell phone is one of the most distracting devices ever created. Overwhelming evidence shows us that cell phones are major barriers to student growth and achievement in the classroom, and they make it harder for our talented educators to teach,' they said in the joint statement. The bill now moves to the Senate's Ways and Means Committee, though lawmakers did not say when the legislation may come up for a full Senate vote. House Speaker Ron Mariano, himself a former teacher, did not respond to a question Tuesday on whether he'd support a school cell phone ban. Nearly three quarters of US high school teachers said cell phones distract students and cause a major problem for classrooms, The Massachusetts Teachers Association, state Education Secretary Patrick Tutwiler, and state Attorney General Andrea Campbell have all supported banning students from having cell phones in classrooms. Part of the concern over in-classroom use of cell phones is the access social media platforms. Health officials like former US Surgeon General Vivek Murthy have warned heavy social media use by young people is associated with 'significant mental health harms.' As of May, a majority of states have imposed measures that ban or restrict students from using cellphones in schools, or recommend schools create their own policies, Advertisement Ten states — Alabama, Arkansas, Georgia, Louisiana, Nebraska, North Dakota, New York, Oklahoma, South Carolina, and Virginia — have imposed a full ban on cell phones during the school day, while seven more prohibit phones during class time. And last month, In Massachusetts, school districts in places like Newton, Brockton, Fall River, Methuen, and Ipswich have rules in place restricting students from cell phones. In a previous interview, Jonathan Mitchell, the principal of Ipswich High School, said a cell phone ban launched last fall changed the school for the better. At Ipswich, students who bring their phones to the high school have to turn their phones over to teachers at the start of the day and retrieve them when classes end. Students talk to each other more often, the cafeteria is louder, and fewer teens have their faces looking at cell phone screens, he said. 'It's hard to quantify with data, but it appears to have had a positive impact on school culture,' Mitchell said. Follow him on Bluesky at He can also be reached on Signal at john_hilliard.70 or email him at
