Repealing Health Care Law Would Increase Deficit By $230 Billion, Non-Partisan Report Says
January 7, 2011
(ChattahBox U.S. News)—Owing to their new majority in the House of Representatives, Republicans are chomping at the bit to annul the health care law passed last year and also to encourage federal fiscal responsibility. But the two goals do not appear to go hand-in-hand, according to a new Congressional Budget Office (CBO) analysis, which indicates that the U.S. deficit would grow by about $230 billion over the next ten years if the health care law were repealed, the Washington Post reports.
House Speaker John Boehner (R-OH) disagreed with the report created by the non-partisan CBO, saying that the group relied on inappropriate assumptions that Democrats had created in the first place, the Post reports. In fact, House Republicans have drafted their own report suggesting different financial outcomes if the law were repealed.
House Republicans intend to vote on striking down the law this Wednesday, after which they will vote to create four House committees that would draft a bill to replace it, the Post reports. Although the House is expected to pass its repeal of the law, analysts expect that any such legislation would die on the Senate floor.