CBO: Health care repeal would cost $109 billion
"Specifically, we estimate that H.R. 6079 would reduce direct spending by $890 billion and reduce revenues by $1 trillion between 2013 and 2022, thus adding $109 billion to federal budget deficits over that period," the CBO and Joint Committee on Taxation said.
H.R. 6079 is the "Repeal of Obamacare Act," which was passed by the GOP-led House on July 11. The vote marked the 33rd time the House has voted to repeal all or part of the law, and the first since the Supreme Court ruled it Constitutional in June.
The CBO also released a new estimate of the cost of the health care law's Medicaid expansion component in light of the Supreme Court's ruling that states have the right to opt out. It estimated the decision would reduce the cost of insurance coverage provisions of the law by $84 billion.
Popular in Politics
- Officials on Benghazi: "We made mistakes, but without malice" 437 Comments
- Anthony Weiner comeback try begins: Running for NYC mayor 105 Comments
- IRS' Lerner: "I have not done anything wrong" 124 Comments
- Major immigration overhaul passes first big test
- Top IRS official to invoke 5th Amendment at congressional testimony 205 Comments
- Will tornado relief funding escape politics?
- U.S. IDs several men possibly responsible for Benghazi attack
- Poll: Most think IRS targeting was deliberate 208 Comments