Democrats Clinch Deal for Deciding Vote on Health Bill

The nonpartisan Congressional Budget Office said the legislation would cost $871 billion over 10 years, with the expense more than offset by revenues from new taxes and fees and by reductions in government spending, particularly on Medicare.

The budget office said the bill would reduce future deficits by $132 billion over that period.

Republicans have accused Democrats of using accounting tricks to hide the true cost of the measure, which they predicted would be huge, particularly if Congress did not follow through with the Medicare cuts.

In place of the public option, the Senate bill would create at least two national insurance plans modeled after those offered to federal workers, including members of Congress. The bill includes a new government-run long-term-care insurance program. And it imposes tight new regulations on the health insurance industry, barring insurers from denying coverage based on pre-existing medical conditions and limiting how much extra they can charge based on age.

Mr. Reid, racing to complete the bill by his self-imposed holiday deadline, on Saturday morning introduced a 383-page package of amendments, including the provisions needed to win Mr. Nelson’s support.

Republicans, who vowed to use every procedural weapon to stop the bill, immediately forced a reading of Mr. Reid’s proposal, which wrapped up shortly before 4 p.m. The Senate adjourned about two hours later on track for a crucial procedural vote at 1 a.m. Monday and a final vote on Christmas Eve...

SOURCE: New York Times