FixHealthCarePolicy

Yes, $2.6 Trillion! A Closer Look at the Full 10 Years of Spending in the House Health Bill

House Speaker Nancy Pelosi and the House Democratic leadership are frantically trying to find enough votes to pass their giant 2,032 page health care legislation this weekend. But before Speaker Pelosi and liberals in Congress pass their big bill, the American taxpayers should be fully aware of the full price tag of this monster.

As Heritage analysts noted earlier in the week, the Congressional Budget Office released its preliminary score of the bill (H.R. 3962) but too many in the media have not been reporting its true cost. The true cost is not the net spending on only the coverage related provisions ($897 billion) but rather the total gross spending for the coverage provisions ($1.05 trillion) as well as any additional spending in the bill (approximately $217 billion). That would raise the plan’s price tag to about $1.5 trillion when including the roughly $210 billion cost of the “doc fix” is included. The “doc fix” refers to the undoing of the flawed Medicare payment update formula, which Congress created but has routinely stopped from being enforced. Under current law, that formula would result in a 20 percent reduction in doctors’ pay under the Medicare program. (more…)

Tags: debt, deficit, Medicare, Nancy Pelosi, Obama Health Care Plan, spending, tax, trillion

CBO: House Health Reform Costs $1.3 Trillion

Heritage’s The Morning Bell details today how the Congressional Budget Office’s (CBO) preliminary analysis of the new House bill, ”America’s Affordable Health Choices Act,” puts the price tag for this latest proposal for health care reform at a cool $1.3 trillion over 10 years.

House Democrats have proposed paying for part of the total bill for that time period – not even half at an estimated $540 billion – by placing a surtax on individuals and families above a certain income level. While Congress may call this taxing the wealthy, but it will really affect small business income earned in the United States.

“Taxes will continue to rise to unsustainable levels if health care spending continues to rise,” Heritage noted about the bill in The Foundry.

Tags: America's Affordable Health Choices Act, health reform, trillion