Congressional Budget Office Report: Health Care Bill Would Expand Coverage and Cut Deficit

October 8, 2009

(ChattahBox) — The nonpartisan Congressional Budget Office has completed a preliminary analysis of the Senate health-care reform package and says the bill could cut federal deficits by $81 billion over the decade and would cover 94 percent of eligible people, leaving about 25 million people uninsured. The cost savings over 10 years would be $829 billion thus expanding health coverage to nearly 30 million Americans who currently lack insurance while meeting President Obama’s goal of reducing the federal budget deficit by 2019.
The CBO report, PDF found here (via the Washington Post) lends a huge political boost to the Finance Committee’s work: distinguishing it as the only one of five bills drafted by various congressional committees that meets every important test established by President Obama and key Democratic leaders.  Blue Dog Dem Max Baucus, chairman of the Senate Finance Committee and the man who steered this moderate-yet-controversial version of the bill, celebrated the analysis: “This legislation, I believe, is a smart investment on our federal balance sheet. It’s an even smarter investment for American families, businesses, and our economy.” His committee could vote as early as Thursday on the legislation.


Comments

2 Responses to “Congressional Budget Office Report: Health Care Bill Would Expand Coverage and Cut Deficit”

  1. phone number lookup on October 8th, 2009 7:50 am

    The group still has not announced a final deal, but this type of cost analysis is sure to move the debate forward.

  2. Amy on October 8th, 2009 5:59 pm

    I just hope this bill helps us all, we all need it.

Got something to say? **Please Note** - Comments may be edited for clarity or obscenity, and all comments are published at the discretion of ChattahBox.com - Comments are the opinions of the individuals leaving them, and not of ChattahBox.com or its partners. - Please do not spam or submit comments that use copyright materials, hearsay or are based on reports where the supposed fact or quote is not a matter of public knowledge are also not permitted.