What was the purpose of the Omnibus budget reconciliation Act of 1993?
The act increased the top federal income tax rate from 31% to 39.6%, increased the corporate income tax rate, raised fuel taxes, and raised various other taxes. The bill also included $255 billion in spending cuts over a five-year period.
What is OBRA 93 law?
Legislation that mandated that insurance providers and employers offer dependent health coverage to children even if the child is not in the custody of the employee in the plan.
What was the purpose of the 1987 Omnibus budget reconciliation Act?
On December 22, 1987, President Ronald Reagan signed the Omnibus Budget Reconciliation Act of 1987 (OBRA-87) also known as the Federal Nursing Home Reform Act. This was enacted to protect the rights of patients in long-term care facilities such as nursing homes, skilled nursing facilities, and assisted living homes.
What was the purpose of the Omnibus budget reconciliation Act OBRA of 1981?
3982, the Omnibus Budget Reconciliation Act of 1981) authorizes $1.875 billion in. grants to States for low-income energy assistance for fiscal years 1982, 1983, and 1984. The program is 100 percent federally financed in each year of its authorization.
What was the Omnibus Budget reconciliation Act of 1993 expansionary or contractionary?
Among a few others, President Bill Clinton employed contractionary monetary policy during his presidency by enacting the Omnibus Budget Reconciliation Act of 1993, also known as the Deficit Reduction Act, that raised the top income tax rate to 36% from 28% for those earning over $115,000 per year, as well as increased …
What is the reconciliation act?
In 1997, Congress passed the Taxpayer Relief Act of 1997, a reconciliation bill that reduced taxes and increased the federal budget deficit. The tax cut bill was paired with the Balanced Budget Act of 1997, which reduced spending, and the two bills were signed into law by President Clinton.
What are the OBRA regulations?
Nursing care requirements under OBRA include: Conduct a comprehensive and accurate assessment of each resident’s overall health upon admission and at each required interval (42 CFR §483.20). Prevent a decline in activity of daily living (ADL) activities, including the ability to eat, toilet, bathe and walk.
What is the main goal of OBRA 87?
Objective: To characterize changes in key aspects of process quality received by nursing home residents before and after the implementation of the national nursing home Resident Assessment Instrument (RAI) and other aspects of the Omnibus Budget Reconciliation Act (OBRA) nursing home reforms.
What is Omnibus Reconciliation Act?
Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) – COBRA is a Federal law that provides rights to temporary continuation of group health plan coverage for certain employees, retirees and family members at group rates when coverage is lost due to certain qualifying events.
What did the Omnibus Budget Reconciliation Act of 1990 do?
The Act increased individual income tax rates. The top statutory tax rate increased from 28% to 31%, and the individual alternative minimum tax rate increased from 21% to 24%. The capital gains rate was capped at 28%.
What is the purpose of the Omnibus budget reconciliation Act quizlet?
The Omnibus Budget Reconciliation Act. (1987) is a federal law that establishes regulations for nursing facilities and nurse aide training facilities. The Intent of OBRA: is to improve the quality of life for residents in nursing facilities.
What is Omnibus reconciliation Act?