Obama's Healthcare Compromise

President Obama presented his compromise healthcare legislation today (in advance of Thursday's healthcare summit in Washington), in an attempt to bridge the differences between the House and Senate versions that have stalled.

According to the White House’s announcement, Obama’s legislation:
• Provides a middle class tax cut for health care and reduces premium costs, to help make coverage more affordable for 31 million Americans.
• It sets up a health insurance market through state-based insurance exchanges
• Gives the government authority to block premiums rate hikes and claim denials

It also closes the Medicare prescription drug “donut hole,” increases the threshold for a tax on high-end insurance plans, and eliminates the Senate provision that exempted Nebraska from paying increased Medicaid expenses, according to CNN. And it does not include the public option.

Thoughts on his proposal?