House approves FY 2016 budget conference agreement

The House voted 226-197 last night to approve a fiscal year 2016 budget conference agreement. According to the chairmen of the House and Senate Budget committees, the budget plan would balance the budget within 10 years while saving more than $5 trillion and repealing the Affordable Care Act. Among other health care provisions, the agreement would extend the life of the Medicare Hospital Insurance Trust Fund; account for the recent enactment of legislation to repeal the Medicare sustainable growth rate formula; repeal the Independent Payment Advisory Board; and modernize Medicaid by increasing state flexibility and protecting those most in need of assistance. They said the agreement focuses reconciliation instructions on the key congressional committees with jurisdiction over the ACA: the Senate Finance and Health, Education, Labor and Pensions committees and the House Energy and Commerce, Ways and Means, and Education and the Workforce committees. The Senate is expected to take up the measure next week.