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QUICK POST: CBO new estimate for health reform: $900 BillionJuly 30, 2009

Posted Nov 04 2009 10:08pm

Well, they at least got the number under $1 trillion, but not by much . . . obi jo

The Congressional Budget Office said that a draft bill expected to emerge from the Senate Finance Committee would cost under $900 billion over the next decade and ensure healthcare coverage of 95% of Americans.  Committee Chairman Max Baucus (D-Mont.), speaking to reporters outside of his Capitol Hill Office, called the report “good news,” but cautioned that the package omits several key provisions. He did not go into detail, however.  “Nevertheless, the report is encouraging,” he said.

In a report sent to committee members Tuesday night, the CBO said that the current package would reduce the federal deficit in its 10th year by several billions of dollars. The package would also increase employer-sponsored coverage, shielding against “crowd out,” where workers would drop their current health plan in favor of an alternative, Baucus said.  Republicans have expressed concern all along that provisions like a government-backed health plan would siphon away individuals from employer-sponsored plans.  “This development will help us as we continue our discussions,” Baucus said.

CBO prices draft legislation at under $900 billion –

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