CBO: House GOP Healthcare Plan Reduces Costs, Lowers Deficit

The New Media Journal ^ | Nov 5, 2009 | The New Media Journal Staff

[NewMediaJournal]

Last night, the nonpartisan Congressional Budget Office (CBO) released its score of the House Republican health care plan, reporting that it will reduce healthcare premiums by up to 10 percent and lower federal budget deficits by $68 billion over the next ten years.

In a letter sent to sent by the CBO to House Minority Leader John Boehner (R-OH), the CBO said:

"The amendment includes a number of provisions intended to increase the availability and improve the affordability of private health insurance.

"According to CBO and JCT’s (Joint Committee on Taxation) assessment, enacting the amendment would result in a net reduction in federal budget deficits of $68 billion over the 2010–2019 period. That estimate reflects a projected net cost of $8 billion over 10 years for the provisions directly related to insurance coverage; that net cost reflects a gross cost of $61 billion that is partly offset by about $52 billion in additional revenues associated with the coverage provisions. Over the same period, the other provisions of the amendment would reduce direct spending by $49 billion and increase tax revenues by $27 billion."

[smith288]

Wont see the light if day in congress.

[camp_steveo]

Thanks!

~SC