The Senate Finance Committee legislation to revamp the health care system would provide coverage to 29 million uninsured Americans but would still pare future federal deficits by slowing the growth of spending on medical care, the nonpartisan Congressional Budget Office said Wednesday.The White House calls it an important step.
The much-anticipated cost analysis showed the bill meeting President Obama’s main requirements, including his demand that health legislation not add “one dime to the deficit.” Indeed, the budget office said, the bill would reduce deficits by a total of $81 billion in the decade starting next year.
The report clears the way for the Finance Committee chairman, Senator Max Baucus, Democrat of Montana, to push for a panel vote within the next few days, and sets the stage for Democrats to take legislation to the floor for debate by the full Senate this month.
Despite the expansion of coverage at a cost of $829 billion over 10 years, the budget office said 25 million people — about one-third of them illegal immigrants — would still be uninsured in 2019. In all, it said, the proportion of nonelderly Americans with insurance would rise over the 10 years to 94 percent, from 83 percent today.
Republicans, who are overwhelmingly opposed to the legislation, minimized the significance of the cost analysis. They suggested that the “real” bill would be written secretly by Democratic leaders as they combine the Finance Committee measure with a version approved by the Senate health committee in July. Read more at the NYT
Eric Cantor puts on his whiny voice and says Americans have rejected the public option:
What the CBO analysis means:
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