July 6 (Bloomberg) -- Congress will probably complete a health-care overhaul this year, though the Senate is unlikely to complete consideration of a measure by the August recess as planned, the Senate Finance Committee’s top Republican said.

“We might get it out of committee by the August recess,” Senator Charles Grassley, an Iowa Republican, said in an interview with Bloomberg Television.

He said it likely would take too much time for the full Senate to complete debate on the measure before lawmakers leave town.

Grassley is working with Senate Finance Committee Chairman Max Baucus of Montana to draft legislation that senators of both political parties might agree to. Grassley said in the interview that the toughest issues -- including how to offset the roughly $1 trillion price tag and whether to create a new public insurance program to cover the uninsured -- still haven’t been resolved.

President Barack Obama is pressing Congress to send him legislation by October that will expand insurance coverage and slow soaring health-care costs.

Democrats who control Congress are considering a mandate that all Americans have health insurance and a requirement that employers provide health benefits to their workers. They also want to create an online insurance “exchange” where individuals can buy coverage at lower group rates.

To contact the reporter on this story: Laura Litvan in Washington at llitvan@bloomberg.net

Last Updated: July 6, 2009 13:26 EDT