John Myers is doing the play by play via Twitter here. And you can check out the Assembly and Senate debate via the web at calchannel.com

New CBO Director Douglas Elmendorf's appearance before the Senate Budget Committee on the budgetary impact of health care reform was another sign of emerging points of consensus on health care reform, including the need to replace the fee-for-service payment structure with a payment system based on value.

Elmendorf made four key points:

1. Near-universal coverage could be achieved through three reforms

a. Risk-pooling

b. Subsidies for those who can't afford insurance

c. Requiring everyone to buy coverage

2. Much health spending adds little clinical value, but we must keep an eye on quality as we strive for efficiency.

Senate Finance Committee Chairman Max Baucus (D-MT)isn't waiting until President-elect Barack Obama takes office to get started on comprehensive health reform. As he pointed out in a letter congratulating Obama on his victory, he's already begun. The goal: "to finalize a comprehensive health reform plan that can pass the Congress and be put on your desk in a timely fashion for signature into law."

Baucus, who has been holding lots of preliminary hearings and meetings for many months, will unveil some specific policy options next week and brief Obama's health transition team.

"I intend for us to move swiftly and decisively with legislation in early 2009," Baucus said in a statement accompanying the release of his letter to Obama.

Baucus laid out five goals: