Aug 7 (Reuters) - Congress will return Sept. 8 from a monthlong recess to pick up work on a proposed overhaul of the $2.5 trillion U.S. healthcare system that President Barack Obama has made his top domestic policy initiative.
There are three healthcare overhaul bills -- two in the Senate and one in the House of Representatives -- that aim to make major changes to insurance industry rules, expand coverage to nearly 46 million uninsured people, and hold down costs, all without an increase in the federal deficit.
What's next for healthcare overhaul in Congress?
* While Senate Finance Committee leaders said they will be working during the break to iron out the final details of their version, no formal action will take place until September. Chairman Max Baucus, a Democrat, and senior Republican Charles Grassley have said a group of six committee leaders is near agreement on a bipartisan bill. The way to pay for the nearly $1 trillion 10-year plan is one of the final outstanding issues.
* House leaders have said they want to bring their bill to a vote in September. To do this, they must meld changes in the legislation approved by three committees -- Ways and Means, Energy and Commerce, and Education and Labor. No Republicans voted to approve any of the versions.
* The Senate health committee approved its version of the bill with no Republican votes. The bill would set up a new government-run insurance system to compete with private insurers, require many employers to provide insurance for their workers or face penalties, and require individuals to buy their own insurance, with a government subsidy if necessary.
What happens after committees act?
* Having missed an early August goal for House and Senate votes on their versions of the legislation, each chamber now hopes to pass its legislation in September. While Democrats control a majority of seats in both chambers, this does not guarantee they will vote in concert with their leadership.
* Once each chamber has passed its version of the overhaul, a small group of lawmakers would meet to iron out differences between the competing versions. Then, each chamber would vote on the compromise legislation. If it passes, it would be sent to the White House for the president's signature into law. The president and congressional leaders have said they are aiming for enactment by the end of this year. (Writing by Jackie Frank, editing by Donna Smith)