CBO: Baucus Health Care Plan Would Cost $880 Billion

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The latest cost estimate on the Senate Finance Committee’s health care proposal is in, and it’s slightly lower than the $900 billion that President Obama projected in his speech before Congress last week.

According to CBO, the proposal, circulated by Sen. Max Baucus (D-MT) would run about $880 billion over 10 years–lower than many experts believe would be necessary to make sure all consumers can afford private insurance. Baucus has said he plans to cover that price tag with efficiencies wrung from Medicare and Medicaid, as well as taxes and fees on health insurance companies and other industry stakeholders.

Baucus will reportedly unveil a draft of his bill tomorrow, and it committee hearings should begin next week.

ABOUT THE AUTHOR

Brian Beutler is TPM's senior congressional reporter. Since 2009, he's led coverage of health care reform, Wall Street reform, taxes, the GOP budget, the government shutdown fight and the debt limit fight. He can be reached at brian@talkingpointsmemo.com
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