Ezra Klein has a draft summary of Senator Baucus’ Finance Committee health care reform bill. It contains no provision for a public plan, though the co-op is still under consideration.

Apparently, the major focus is on cutting federal budget costs, rather than providing health care at affordable cost to all Americans. That follows from the CBO estimates that the original package might have cost $1.6 trillion.

From Ezra:

Sources say that it’s a major scale-back of the outline they had before. Specifically, subsidies have dropped from 400 percent of the poverty line to 300 percent. Medicaid eligibility has been tightened to 133 percent of poverty for children and pregnant women and 100 percent of poverty for parents and childless adults. The plans being offered in the exchange have seen their actuarial values sharply lowered.

Beyond the changes, this is also the clearest look we’ve had at the specific policies being considered. There’s a fairly strong individual mandate, albeit with exemptions for those beneath the poverty line, those who would have to spend more than 15 percent of income for a plan, and undocumented workers. There are a variety of options for an employer mandate, or the absence of one. Sen. Kent Conrad’s co-op idea is up for discussion. There’s no public plan mentioned anywhere in the document.

That’s a pretty pathetic package, and the Committee should be embarrassed to call it "reform." It also looks like the Committee is just bouncing alternative packages off CBO to find one that gets the budget impact under $1 trillion. There’s no connection to any other public policy goal.

Ezra provides a pdf link to the Committee draft.