Why the GOP’s Obamacare repeal bill will cost taxpayers $1.2 trillion over 10 years
The GOP health care bill would cost the federal government more than $1 trillion over the next decade, according to a nonpartisan analysis by the Congressional Budget Office.
That’s an amount that’s about $700 per person in 2020, compared to about $300 in 2020 for a standard family of four, according the analysis by The Washington Times.
That would translate to about 1.3 million fewer people having health insurance over the decade.
A similar analysis by Health Affairs, an independent, nonpartisan health policy research group, found that the GOP bill would increase the number of uninsured by 18 million people over the same period, with many of those new enrollees receiving Medicaid and subsidies.
The House GOP bill, however, includes the Medicaid expansion that would pay for coverage for the uninsured, and the Senate bill would expand that program, but only to low-income Americans.
Both plans also include the $880 billion in tax credits and subsidies that would be available for lower-income people.
Both would also cut Medicaid funding by $880.3 billion over 10 year period, leaving the federal deficit over the coming decade $1,300 billion, according Health Affairs.
That compares to about one-third of the $2 trillion deficit in 2020.
The CBO estimates that in 2026, the federal budget deficit would be $2.3 trillion, with Medicaid spending growing by $1 billion.
The nonpartisan Congressional Budget Service projects that over the following decade, Medicaid spending will grow by only 1.7 percent a year, compared with an increase of 10.4 percent a decade earlier.
The federal deficit will reach $4.4 trillion in 2027, the CBO projects, up from $3.7 trillion today.
That is the CBO’s estimate of the total cost of the House GOP’s bill.
The White House has not commented on the CBO analysis.
The Congressional Budget Board has not released its score of the bill, but has said it would release its own report “in the near future.”
Senate Minority Leader Chuck Schumer said he was disappointed by the CBO score, and suggested it may be politically motivated.
“The American people know that we are going to take care of them, that we will take care to keep them safe,” he said on CNN’s “State of the Union.”
Schumer said that Republicans were trying to “throw the health care law to the dogs” and said the CBO report would “be an indictment of the Trump administration.”
Democrats said the Senate report would confirm what they already knew: The Republican bill does not make America safer.
“Republicans are not trying to fix the problem,” said Senate Minority Whip Dick Durbin, D-Ill.
“They’re trying to throw the health law to an angry mob.”
Durben added that he would work with Republicans to repeal the health plan, but added, “it’s not going to happen on a day-by-day basis.”
House Minority Leader Nancy Pelosi also slammed the Senate CBO report.
“We are not going back to the days of ‘no new taxes’ when Americans could not afford health insurance and the government didn’t provide it,” Pelosi said in a statement.
“This bill is an abomination that is more than just a failure, it’s a crime.”
The Senate bill was rushed through Congress on Thursday by Majority Leader Mitch McConnell, R-Ky., in a party-line vote.
House Speaker Paul Ryan said in an interview with CNN’s Christiane Amanpour that he and his colleagues were not trying “to throw the Obamacare health care plan to the wolves” and instead wanted to take the issue “as far as we can.”
Ryan said that he believes the bill “will pass the House,” but that the Republican leadership would need Democratic support in order to pass it to the Senate.
The Senate’s legislation includes provisions to expand Medicaid coverage, as well as funding for the Children’s Health Insurance Program, which provides coverage for children in the child care system.
The bill also would allow states to opt out of certain federal health insurance rules.
Ryan said his goal is to get a vote on the bill before the end of the year, but that he expects it to be a “very difficult vote.”
Democrats have criticized the bill for its high deductibles, which will make it difficult for people to afford coverage, and its lack of protections for preexisting conditions, which is the condition in which a person gets the coverage they need.
Some of the Republican members who voted for the bill in the House have been vocal about their concerns about the legislation, including Majority Whip Kevin McCarthy, R and Rep. Raul Labrador, R of Idaho.
In a statement Friday, McCarthy called the CBO estimates “highly inaccurate.”
“The CBO report shows the House bill will raise premiums and deductibles for millions of Americans, and that millions of middle class families will pay higher taxes in 2029,” McCarthy said.
“Instead of doubling down on the GOP ‘