CBO Estimate on Revised Kennedy Bill - The American Spectator | USA News and Politics
CBO Estimate on Revised Kennedy Bill

The AP is reporting that a new estimate of the health care bill coming out of the Senate Health, Education, Labor and Pensions Committee has a price tag of $600 billion, while covering 97 percent of Americans — a stark contrast from the $1 trillion estimate that covered a smaller number of Americans. However, the story is based on a letter from Ted Kennedy and Chris Dodd reporting the CBO findings, but not any CBO report itself.

As liberal health care reporter Jonathan Cohn acknowledges, the $600 billion number does not actually include the expansion of Medicaid, which is expected to add about 20 million people to the program’s rolls. Add that, Cohn writes, and you’re likely looking at a bill that costs $1 trillion to $1.3 trillion over 10 years. He suggests that it will be deficit neutral once you factor in proposed cuts to Medicare, other savings, and tax increases.

The problem is, there’s a big debate over how to raise revenue. Obama’s proposal to cap the charitable deduction on wealthy Americans is not popular on the Hill, while the idea of taxing employer benefits has drawn fire of unions. That said, I’m going to reserve further comment until I can look at the actual CBO findings.

Sign Up to receive Our Latest Updates! Register

Notice to Readers: The American Spectator and Spectator World are marks used by independent publishing companies that are not affiliated in any way. If you are looking for The Spectator World please click on the following link: https://spectatorworld.com/.

Be a Free Market Loving Patriot. Subscribe Today!