House Cuts Medicare Independent Payment Advisory Board

Calling it a "rationing panel," the House of Representatives voted on Thursday to repeal the Independent Payment Advisory Board.

The board would have been tasked with controlling Medicare costs. While both sides of the aisle agreed that Medicare costs need to be reined in, they weren't able to come to an agreement on how that should happen.

It is expected that the IPAB repeal bill will now either die in the Senate or eventually be vetoed by President Obama.

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