CBO: Health Insurance Reform to Reduce Deficit by $1.3 Trillion Over 20 Years
March 18, 2010
Washington, DC – Today, the Congressional Budget Office announced that health insurance reform will reduce the federal deficit by $138 billion in the first ten years and $1.3 trillion in the second ten years.
“I’m encouraged by the Congressional Budget Office’s report that health insurance reform will significantly reduce the federal deficit,” said Rep. Ben Ray Luján. “Health insurance reform is fiscally responsible, and it will take on health insurance companies, provide more choices and make health insurance more secure and affordable for families and small businesses.”
The legislation is fully paid for. It will cost $940 billion over ten years and expand coverage for 32 million Americans, helping to ensure that 95 percent of Americans are covered.
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