Following is the first page of the CBO estimate on the health care bill, along with a link to the actual report.
http://www.cbo.gov/ftpdocs/113xx/doc11307/Reid_Letter_HR3590.pdf
CONGRESSIONAL BUDGET OFFICE Douglas W. Elmendorf, Director
U.S. Congress
Washington, DC 20515
March 11, 2010
Honorable Harry Reid
Majority Leader
United States Senate
Washington, DC 20510
Dear Mr. Leader:
The Congressional Budget Office (CBO) and the staff of the Joint Committee on
Taxation (JCT) have estimated the direct spending and revenue effects of H.R. 3590, the
Patient Protection and Affordable Care Act (PPACA), as it was passed by the Senate on
December 24, 2009. This estimate differs from our December 19 estimate for an earlier
version of that legislation in that it encompasses all of the amendments that were adopted
by the Senate, reflects a revised assumption about its enactment date, and incorporates
some technical revisions.1
Among other things, the legislation would establish a mandate for most residents of the
United States to obtain health insurance; set up insurance exchanges through which
certain individuals and families could receive federal subsidies to substantially reduce the
cost of purchasing that coverage; significantly expand eligibility for Medicaid;
substantially reduce the growth of Medicare’s payment rates for most services (relative to
the growth rates projected under current law); impose an excise tax on insurance plans
with relatively high premiums; and make various other changes to the federal tax code,
Medicare, Medicaid, and other programs.
Updated Estimate of Budgetary Impact
CBO and JCT now estimate that, on balance, the direct spending and revenue effects of
enacting H.R. 3590 as passed by the Senate would yield a net reduction in federal deficits
of $118 billion over the 2010–2019 period. Approximately $65 billion of that reduction
would be on-budget; other effects related to Social Security revenues and spending as
well as spending by the U.S. Postal Service are classified as off-budget. In the estimate
that was provided on December 19, the estimated budgetary impact was a net reduction
in deficits of $132 billion, of which approximately $81 billion would be on-budget. The
1 The previous estimate by CBO and JCT was provided in a letter to the Honorable Harry Reid on
December 19, 2009, for an amendment in the nature of a substitute to H.R. 3590, incorporating the effects of a
proposed manager’s amendment.
Latest figures from CBO on health care bill.
Member #: 10075
Registered: 1996-2001
Posted:
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Name:
Dale
Occupation:
Project Manager/Sweep Technician
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