CBO: Healthcare Reform To Cost $940 Billion Over The Next Decade

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CBO: Healthcare reform to cost $940 billion over the next decadeLast week, the Congressional Budget Office released a report which estimates that the updated healthcare reform bill will cost approximately $940 billion over the next 10 years.

House Majority Leader Steny Hoyer said the measure will cut the federal deficit by as much as $130 billion in the next decade, and more than $1 trillion over the following 10 years due to revenue increases and cost savings, compared to the current system.

“I think the momentum is growing for this bill,” said Hoyer. “The more and more people have looked at this bill…a greater number of people are becoming more comfortable.”

The release of the estimate may set the table for a final vote on healthcare reform in the House this Sunday. Democratic leaders plan to post the reconciliation bill online Thursday to give the public and some conservative Democrats 72 hours to review the language, Fox News reports.

The package that was considered by the budget office was the Senate bill combined with supplemental changes instituted by members of the House. If Democratic leaders decide to use the parliamentary tactic known as budget reconciliation, and all indications are that they will, Republicans will not be able to prevent the bill from getting to President Obama’s desk.
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