CBO Says Health Bill to Save $1.3 Trillion

     WASHINGTION (CN) – Democrats are pushing for a weekend vote after the Congressional Budget Office reported on Thursday that the new bill would reduced the deficit by $1.3 trillion over 20 years and would insure an extra 32 million Americans. “I think today’s CBO score provides a significant boost to health reform,” White House Press Secretary Robert Gibbs told reporters.

     The deficit reduction under the newly negotiated bill would be more significant than under the original House or Senate bills and would be the largest deficit reduction move since 1993, when Congress passed a tax increase with the backing of President Clinton.
     The preliminary CBO report says that the bill would cost $940 billion and reduce the deficit by $130 billion during the first ten years. In the second 10 years, it would reduce the deficit by $1.2 trillion.
     The legislation would cover 32 million Americans, ensuring that 95 percent of the population is insured.
     Democrats have been waiting for the report before pushing forward on a vote. They will have their bill posted for the required three days, giving lawmakers and the public time to consider it.
     Maryland Democratic Rep. Steny Hoyer said a vote will be held on Sunday.
     Gibbs from the White House told reporters at a conference that “the president is pleased that the House has posted the health care legislation on the Internet and that a final vote is coming.”
     Obama has postponed his trip this week to Australia and Indonesia until June so he can stay close as the legislation advances. “Passage of health insurance reform is of paramount importance, and the President is determined to see this battle through,” Gibbs said.

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