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Price said he will propose a budget in early 2015 that aims to eliminate the budget deficit over 10 years, meaning he will equalize the levels of government spending and revenue. ... He said, for example, that he would continue to propose changes to Medicare that create a “premium support” option, which would allow seniors to purchase private insurance with government stipends as opposed to using the Medicare program. (Paletta, 12/12)

Price, a physician with four years on the Budget Committee, said a Republican-controlled Congress can now advance policies pioneered by Ryan, including his controversial Medicare plans. Those plans would scale back the popular social insurance program for the elderly and disabled by limiting beneficiaries to a set amount of money every year to buy private healthcare insurance. Known as "premium support," the program as envisioned by Ryan would mark a dramatic shift from the current Medicare system, under which the federal government helps pay for all medical services that an individual uses. "The issue of premium support, internally is now basically settled policy for the Republican conference," Price said. (Lawder, 12/12)

Rep. Tom Price (R-Ga.) has big shoes to fill as chairman of the House Budget Committee in the next Congress. Taking over from Rep. Paul Ryan (R-Wis.), the GOP’s 2012 vice presidential nominee and leading voice on fiscal matters, Price is vowing to rein in federal spending, reform the budget process and potentially roll back Obamacare. ... With the Republicans in the majority next year, many in the GOP believe they can use a budget tool called reconciliation to repeal Obamacare. A reconciliation deal cannot be filibustered in the Senate and only needs 51 votes to pass instead of a supermajority. GOP leaders have not yet decided on how to use reconciliation, Price said, but the decision could be made by mid-January during their joint retreat to Hershey, Pa. (Shabad, 12/13)

Sen. Patty Murray will become the top Democrat on the Senate Health, Education, Labor and Pensions Committee next year, just as the GOP gains control of the Senate with plans to redouble its attention to the federal health law. Ms. Murray is taking the committee seat being vacated by Iowa Sen. Tom Harkin, who is the panel’s current chairman and is retiring after nearly 40 years in Congress. With GOP takeover, Republican Sen. Lamar Alexander of Tennessee will be HELP Committee chairman. (Radnofsky, 12/12)