Today President Obama sent congress his fiscal year 2014 Budget. If I was a betting man, I would bet that congress will not rubber stamp this budget, but there are some parts of it they may keep. I am waiting on other news media and trade groups to receive the proposed budget and analyze it. But here are a few things that are in the proposed budget.
1. The Presidents budget would end the across the board cuts from the sequester, if it is passed.
2. It does not look like there is anything in the budget to reverse the Medical Device Tax, click here to see today’s post on the Medical Device Tax. I wasn’t expecting to see anything about it his budget so no surprise there.
3. $821 million increase for FDA, primarily to to bolster food and drug import safety. Some of this money is coming from appropriations, and some of it is coming from industry fees. Increased funding for the FDA is good, and ending the sequester and providing the FDA with the ability to utilize the increase in industry fees would be really good.
4. $31 billion for the National Institutes of Health, and includes fulfilling the government’s commitment to enhance research into Alzheimer’s disease. This is the subject of a future post, but we need additional NIH funding so our young scientists can fund research. We are losing a lot of young research talent because they are not able to secure funding for their projects.
5. The budget would cut $400 billion from Medicare, Medicaid and other programs over the next decade by implementing “payment innovations” and other reforms intended to encourage efficiency. I don’t know if this includes changes to Medicare Part D or B, waiting to see, and I will update it. Click here to see my post about Part D.
When I find out more about the budget and especially the changes to Medicare, I will follow up with another post.
This is a conversation, not an editorial. Did I forget something, get it wrong or do you agree? Please Comment, Like, Re-Tweet and Share.