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Congressional Budget Office Releases Cost/Savings Estimates of Senate Health Care Bill


Congressional Budget Office Releases Cost/Savings Estimates of Senate Health Care Bill

Estimate of the Budgetary Effects of the Senate-Passed Health Bill

UPDATE: The CBO score is here.

FULL TEXT OF THE BILL HERE: 111_hr4872_amndsub

CBO has just released an estimate of the budgetary effects of the health bill, H.R. 3590, that passed the Senate on December 24. Today’s estimate differs from the estimate for a slightly earlier version of the legislation that we released on December 19 in that it encompasses all of the amendments that were adopted by the Senate, reflects a revised assumption about its enactment date, and incorporates some technical revisions. Like the December 19 estimate, this estimate is based on CBO’s baseline projections from March 2009. We and the staff of the Joint Committee on Taxation (JCT) prepared this updated estimate in preparation for further consideration of health care legislation. However, the changes we have made do not result in an estimate that differs substantially from the earlier one.

CBO and JCT now estimate that, on balance, the direct (mandatory) spending and revenue effects of enacting H.R. 3590 as passed by the Senate would yield a net reduction in federal deficits of $118 billion over the 2010–2019 period. (Direct spending—as distinguished from discretionary spending—is spending that stems from legislation other than appropriation acts.) In our earlier estimate, the budgetary impact was a net reduction in deficits of $132 billion. Read more.

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DonPWe in the Government have also determined that the bill will 1. Cure world hunger. 2. Assure world peace. # Protect little Timmies pet pink unicorn. CBO cannot accurately forecast this years budget deficit, so I really really think this statement is non-political.

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