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Health Care Update: The Numbers Are In
Citing the Congressional Budget Office (CBO), House Majority Leader Hoyer says the new healthcare bill will cost $940B over 10 years.
Hoyer said that the CBO has determined that the bill but will trim the federal deficit by $130B in the first ten years and $1.2 trillion in the second ten years.
The CBO also says the plan will reduce the annual growth in Medicare expenditures by 1.4% per year, will expand health insurance coverage to 32M Americans, and will give 95% of Americans health care coverage.
The CBO is expected to release its official estimate of the cost of the Democratic-written legislation on Thursday.
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