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Senate Health Bill Pegged At $829 Billion

October 7, 2009

This news tonight allows for the progress of the health reform bill to proceed forward.  This bill meets the cost factors that many were concerned about.

U.S. Senate Finance Committee health plan would cost $829 billion and cut the budget deficit by $81 billion over 10 years, nonpartisan budget analysts said on Wednesday in a report that could bolster President Barack Obama‘s healthcare reform drive.

The preliminary estimate from the Congressional Budget Office also said the bill would reduce the number of uninsured people in the United States by about 29 million by 2019.

The bill would meet Obama’s push for a healthcare plan that does not increase the budget deficit, according to the CBO. The estimate could ease the way for committee approval of the measure in the next week.

“This is another important step forward for health reform,” White House spokesman Reid Cherlin said.

Republicans, saying they were concerned about the bill’s costs and potential impact on the budget deficit, had demanded the estimate before they cast a vote on the proposal to transform the $2.5 trillion healthcare system.

The bill, one of five pending in Congress on Obama’s top domestic priority, would require individuals to have health insurance and would offer subsidies to some people to help pay for it.

Insurers would face stiff new regulations — including a prohibition on rejecting coverage for people due to pre-existing medical conditions — and the bill would impose a tax on higher-cost insurance plans.

5 Comments
  1. bassackwards permalink
    October 8, 2009 10:41 PM

    Hey Democrats. What about the other 20 million still uninsured? Nice plan.

  2. Lisa permalink
    October 8, 2009 8:32 PM

    I hope this bill does some good.

  3. October 8, 2009 8:33 AM

    “Socialist Math ”

    Come now….I expect better of you than that.

  4. Ferrell Gummitt permalink
    October 8, 2009 8:29 AM

    Hey guys is there anything about tort reform here? This bill is nothing more than another gift to trial lawyers. Also, you have to be totally insane to think this only going to cost $829B.

    This is also Voodoo Economics. Only using Statist or maybe Socialist Math does $829 billion in COST equate to $81 billion in SAVINGS over 10 years! By that logic we should spend $90 trillion and we wipe out the entire $9 trillion deficit in ten years !

  5. pnl permalink
    October 8, 2009 7:02 AM

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

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