The 142-page Senate bill which makes the first step at repealing and replacing Obamacare as scored today by the CBO which is the “non-partisan” Congressional Budget Office which determines how much new bills will cost among other things. The bottom line is it will save the U.S. $321 million dollars over ten years and 22 million less people will have health insurance as a result.
The CBO goes on to say the largest savings in H.R. 1628, Better Care Reconciliation Act of 2017 (see full text at bottom) would come from reductions in outlays for Medicaid—spending on the program would decline in 2026 by 26 percent in comparison with what CBO projects under current law—and from changes to the Affordable Care Act’s (ACA’s) subsidies for nongroup health insurance.
Those savings would be partially offset by the effects of other changes to the ACA’s provisions dealing with insurance coverage: additional spending designed to reduce premiums and a reduction in revenues from repealing penalties on employers who do not offer insurance and on people who do not purchase insurance.
Before the CBO released the score for the Senate plan, five GOP senators said they will not back it in its current form. Four conservative senators — Rand Paul of Kentucky, Ted Cruz of Texas, Mike Lee of Utah and Ron Johnson of Wisconsin — argue it does not go far enough to dismantle the Affordable Care Act.
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