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Baucus, the CBO, and my summary

The Finance Committee draft was finally released today, and its title is “America’s Healthy Future Act.” Criticisms of the draft abound on both sides of the aisle; Dems see it as conceding too much and the relevant Republicans aren’t supporting it either (but more importantly they aren’t OPPOSING it yet). Reactions from outside Congress have focused on shortcomings in certain mechanisms within the bill, including the employer fee formula that may deter low-income hiring and very restricted co-ops. These issues will all be hammered out next week in the mark up.

See a summary I put together of the Framework’s main elements and concerns, or enjoy an insomnia cure some casual reading with the full 223 page draft.

More importantly, the CBO has decided to score this draft over 20 years (as opposed to the traditional 10 year window) and low and behold the reform actually LOWERS the deficit. I suggested this in a newsletter a while back, as taking into account longer term revenue/savings is a much more accurate portrayal of a reform bill’s total cost.