CBO Score on Senate Health Bill: Costs $849 Billion, Reduces Deficit

November 18, 2009

(ChattahBox)—Sen. Majority Leader Harry Reid (D-NV) is very happy today, as the Congressional Budget Office has finally released its score of the Senate’s health care reform bill. The cost of the bill comes under the magic number of $900 billion at a cost of $849 billion over 10 years. And better yet, the CBO score shows that the bill would substantially reduce the deficit.

The comprehensive reform of our health care system would be funded with cuts to Medicare waste and would reduce the deficit by $127 billion.

The Senate bill would provide coverage to 31 million Americans, which would grow to cover 94 percent of the populace by 2019. The bill contains an opt-out public option.

During the second decade of the bill, cost savings are estimated at a whopping $650 billion.

All sixty Democratic votes are needed to allow the bill to proceed to the house floor for debate, and the Majority Leader summoned three conservative Democrats to his office; Senators Ben Nelson (NE), Mary Landrieu (LA) and Blanche Lincoln (AR), to ensure they didn’t block the historic legislation.

Sen. Reid plans to schedule the procedural vote to begin debate on the legislation before lawmakers leave for a Thanksgiving recess.

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