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Analysts cost Senate health plan | Analysts cost Senate health plan |
(about 5 hours later) | |
A healthcare bill drafted by the US Senate Finance Committee would expand insurance coverage but also cut the federal deficit, budget analysts say. | A healthcare bill drafted by the US Senate Finance Committee would expand insurance coverage but also cut the federal deficit, budget analysts say. |
The nonpartisan Congressional Budget Office says the bill would cost $829bn (£517bn) over 10 years but also result in reducing the deficit by $81bn. | The nonpartisan Congressional Budget Office says the bill would cost $829bn (£517bn) over 10 years but also result in reducing the deficit by $81bn. |
This analysis is in line with President Barack Obama's own estimates. | This analysis is in line with President Barack Obama's own estimates. |
His efforts to overhaul healthcare have been grinding through Congress amid arguments over costs and scope. | His efforts to overhaul healthcare have been grinding through Congress amid arguments over costs and scope. |
The finance committee will now vote on its bill next Tuesday, Senate leaders have announced. | |
The analysis by the Congressional Budget Office (CBO) was a key test, correspondents say, as drafting healthcare reform that does not add to the national debt has been a huge challenge. | The analysis by the Congressional Budget Office (CBO) was a key test, correspondents say, as drafting healthcare reform that does not add to the national debt has been a huge challenge. |
If the CBO estimates had been much higher, it would have been a big blow to efforts by Mr Obama and the Democrats to have healthcare reform passed by the end of the year. | If the CBO estimates had been much higher, it would have been a big blow to efforts by Mr Obama and the Democrats to have healthcare reform passed by the end of the year. |
The real bill will be another 1,000-page, trillion-dollar experiment Mitch McConellSenate Republican leader Reform: Who wants want Q&A: Healthcare reform | The real bill will be another 1,000-page, trillion-dollar experiment Mitch McConellSenate Republican leader Reform: Who wants want Q&A: Healthcare reform |
The Congressional Budget Office (CBO) concluded that the legislation drafted by the influential finance panel would cost $829bn by 2019 but that spending cuts elsewhere and new revenue would actually result in lowering the federal deficit by $81bn over the 2010-2019 period. | |
The CBO also estimates that the number of people who do not have health insurance would be reduced by about 29 million, leaving about 25 million people uninsured. | The CBO also estimates that the number of people who do not have health insurance would be reduced by about 29 million, leaving about 25 million people uninsured. |
About one-third of these would be illegal immigrants who are ineligible for insurance. | About one-third of these would be illegal immigrants who are ineligible for insurance. |
"Our balanced approach to health reform has paid off yet again," said Sen Max Baucus, who chairs the Finance Committee. | "Our balanced approach to health reform has paid off yet again," said Sen Max Baucus, who chairs the Finance Committee. |
Hurdles | Hurdles |
But Republicans say the final draft which will be voted on is likely to be very different and more expensive than this version. | But Republicans say the final draft which will be voted on is likely to be very different and more expensive than this version. |
"The real bill will be another 1,000-page, trillion-dollar experiment," Senate Republican leader Mitch McConnell said. | "The real bill will be another 1,000-page, trillion-dollar experiment," Senate Republican leader Mitch McConnell said. |
The finance committee's bill must be combined with the Senate Health Committee's bill, and go before the full Senate for a vote, where it is not guaranteed to pass, as it needs all the Democrats, two independents and one Republican to vote in favour. | |
If it passes the Senate, it will be combined with the House of Representatives' version by a conference committee and go back before both houses for final approval. | If it passes the Senate, it will be combined with the House of Representatives' version by a conference committee and go back before both houses for final approval. |
All of the different versions of the bill are broadly similar in the scope of their reforms: | All of the different versions of the bill are broadly similar in the scope of their reforms: |
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Lawmakers are divided, however, over whether people with access to the exchanges should be allowed to choose a new state-run scheme - the so-called "public option". | Lawmakers are divided, however, over whether people with access to the exchanges should be allowed to choose a new state-run scheme - the so-called "public option". |
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