Washington, DC—Nevada Senator Harry Reid released the following statement after the Congressional Budget Office released an updated score on the cost of repealing the Affordable Care Act. A summary of the key findings from CBO is below: ??
“After all their talk about the deficit, Republicans didn’t wait one day before pushing an extreme agenda that will cost American taxpayers more than $1.5 trillion and put Americas’ health coverage at risk. Today we learned that the Republicans’ plan increases the deficit by $230 billion over the next ten years, sixty percent more than previously estimated. And the Republicans’ plan to repeal health reform would continue to balloon the deficit by more than $1.3 trillion in the second ten years, also worse than previously expected, according to a projection released today by the non-partisan Congressional Budget Office.
“In addition to its price tag, the plan means putting insurance companies back in charge of care, taking away tax cuts for small businesses, taking away free preventive screenings for diseases such as breast cancer, allowing insurance companies to once again deny coverage to children with a preexisting condition and re-opening the Medicare prescription drug doughnut hole. The costs of Republicans’ extreme agenda are simply too high for the middle class to bear.”??
According to the CBO, repeal would:?
· Increase the deficit by $230 billion over the next ten years.
· Explode the deficit by more than $1.3 trillion in the decade after that.
· Raise costs for Americans with employer-sponsored plans as well as people buying health care on the individual market.
· And those people buying insurance on their own would be paying more for insurance that provides them with less protection.
· Take away 32 million Americans’ health insurance.
For the full CBO report released today, please visit: http://go.usa.gov/rIy