Ramstad will vote for bailout so he doesn't vote against his own bill
Minnesota Rep. Jim Ramstad announced he will vote for the second version of the financial rescue bill tomorrow, which passed the Senate Wednesday night. But we kind of figured he had to since his legacy mental health bill is now wrapped up in the whole package. Those senators sure are sneaky.
Ramstad's bill, which we wrote about last week, would require health insurers to cover mental health just as they do physical conditions. This means that all co-payments, deductibles and annual and lifetime caps on mental health benefits would be the same as medical and surgical benefits.
Here is the statement on the bailout plan from the retiring Republican:
"The inclusion of our mental health parity bill, major tax relief and bank deposit (FDIC) insurance increases caused me to reconsider my position. There's too much at stake to let the legislation fail."
Ramstad should thank the Senate for making his change of heart look 100 percent genuine.