US health bill costs 940 billion dollars
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U.S. Democratic leaders unveiled the final version of the health insurance reform bill Thursday, setting the stage for a vote this weekend in the House of Representatives. According to the non-partisan Congressional Budget Office (CBO), the bill will cost 940 billion U.S. dollars over the next 10 years, while cutting the federal deficit by 138 billion dollars.
![U.S. Speaker of the House Nancy Pelosi attends an event highlighting health care reform at the Capitol Hill in Washington D.C., capital of the United States, March 18, 2010. U.S. House Democratic leaders unveiled their final version of health insurance reform bill Thursday, setting stage for a final vote in the House on Sunday. The bill is estimated to cost 940 billion U.S. dollars in 10 years. [Wang Fengfeng/Xinhua]](http://images.china.cn/attachement/jpg/site1007/20100319/000cf1bdd03f0d0d202f63.jpg "U.S. Speaker of the House Nancy Pelosi attends an event highlighting health care reform at the Capitol Hill in Washington D.C., capital of the United States, March 18, 2010. U.S. House Democratic leaders unveiled their final version of health insurance reform bill Thursday, setting stage for a final vote in the House on Sunday. The bill is estimated to cost 940 billion U.S. dollars in 10 years. [Wang Fengfeng/Xinhua]") |
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U.S. Speaker of the House Nancy Pelosi attends an event highlighting health care reform at the Capitol Hill in Washington D.C., capital of the United States, March 18, 2010. U.S. House Democratic leaders unveiled their final version of health insurance reform bill Thursday, setting stage for a final vote in the House on Sunday. The bill is estimated to cost 940 billion U.S. dollars in 10 years. [Wang Fengfeng/Xinhua] |
House Speaker Nancy Pelosi and House Majority Leader Steny Hoyer unveiled the bill in the Capitol, with Pelosi saying the bill is making "history" and "progress."
According to CBO figures announced earlier in the day, the overhaul is estimated to cost some 940 billion dollars over 10 years, in the meantime cutting federal deficit by 138 billion dollars. The bill is estimated to cut 1.2 trillion dollars in deficit in its second decade.
It will give coverage to 32 million uninsured Americans by 2016.
However, CBO said the estimate is preliminary, because it "has not thoroughly examined the reconciliation proposal to verify its consistency with the previous draft."
The favorable estimate is a boost to Democratic leaders, which would help them convince House Democrats who are unsure of the bill. With CBO's assessments made public, the House can publish the text of the bill for 72 hours of review before a vote in the Chamber.
The Democrats are setting the stage for a vote on Sunday. Hoyer said Americans would benefit if the House passes the bill, "as we will on Sunday."
Democratic leaders have been working hard to get the 216 votes they need in the House. As Republicans form a rock-solid position against the reform, whether Democrats stick together can make or break the bill.
Dennis Kucinich, the Democratic Representative from Ohio, who opposed an earlier version of the bill when it passed through the House, announced Wednesday he is to support the new bill, boosting confidence in Democratic leadership. The House had passed an earlier version of the health bill with a slim majority. This time around, they have even fewer votes, making it imperative to win over earlier opponents such as Kucinich.
![U.S. House Majority Leader Steny Hoyer (C) attends an event highlighting health care reform at the Capitol Hill in Washington D.C., capital of the United States, March 18, 2010. U.S. House Democratic leaders unveiled their final version of health insurance reform bill Thursday, setting stage for a final vote in the House on Sunday. The bill is estimated to cost 940 billion U.S. dollars in 10 years.[Wang Fengfeng/Xinhua]](http://images.china.cn/attachement/jpg/site1007/20100319/000cf1bdd03f0d0d20f605.jpg "U.S. House Majority Leader Steny Hoyer (C) attends an event highlighting health care reform at the Capitol Hill in Washington D.C., capital of the United States, March 18, 2010. U.S. House Democratic leaders unveiled their final version of health insurance reform bill Thursday, setting stage for a final vote in the House on Sunday. The bill is estimated to cost 940 billion U.S. dollars in 10 years.[Wang Fengfeng/Xinhua]") |
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U.S. House Majority Leader Steny Hoyer (C) attends an event highlighting health care reform at the Capitol Hill in Washington D.C., capital of the United States, March 18, 2010. U.S. House Democratic leaders unveiled their final version of health insurance reform bill Thursday, setting stage for a final vote in the House on Sunday. The bill is estimated to cost 940 billion U.S. dollars in 10 years.[Wang Fengfeng/Xinhua] |
