The Congressional Budget Office (CBO) today released a score on the final health care reform bill, which is due for a vote in the House in the coming days. Here are the key details:
- Cuts the deficit. Over the first ten years, health care reform will cut the deficit by $130 billion, followed by $1.2 trillion in the second ten years.
- Reins in wasteful Medicare costs. Reduces the annual growth in Medicare expenditures by 1.4% per year. Extends Medicare’s solvency by at least 9 years.
- Closes the prescription drug donut hole. Seniors will receive more assistance in purchasing prescription drugs.
- Expands and improves health coverage for middle class families. Expands coverage to 32 million Americans. Guarantees that 95% of all Americans will be covered.
- Provides more generous subsidies to middle class Americans.