CBO: Bill To Repeal Parts Of Obamacare Would Save Government Money

Date: January 05, 2016

Report Finds Scrapping Parts Of Mandate Would Save Government More Than Half A Trillion Dollars

As Republicans in the House are poised to vote on a repeal major aspects of Obamacare this week, The Hill reported that the Congressional Budget Office said Monday that legislation to repeal the biggest parts of Obamacare “would cost about $42 billion less than previously expected, saving more than a half-trillion dollars over a decade.” According to the CBO, the “Restoring Americans’ Healthcare Freedom Reconciliation Act,” which would “gut most of Obamacare’s mandates and taxes,” and would “reduce the deficit by $516 billion over 10 years.” The International Business Times reported that previously the GOP pointed out that “eliminating the employer mandate would save $7.9 billion from 2016 to 2017.” Previously the COB had projected the measure “would cut the federal deficit by $474 billion, but that projection changed after several delays on healthcare taxes were enacted.” In exchange for these savings, however, the CBO pointed out that scrapping these parts of Obamacare “would leave an additional estimated 750,000 people uninsured after 2018.”

What Happens Next

The New York Times reported that while House Republicans will likely be able to pass a repeal of components of Obamacare this week, the victory “will be short-lived” as Obama “will certainly veto” the bill and Republicans lack the votes to override. However, this measure is likely to set the stage for continued efforts to repeal the mandate.

What This Means For Small Businesses

Small businesses already know their healthcare costs have been rising under the increasingly-aggressive regulatory environment of the Obama administration. This latest CBO report showing the potential savings to the government from scrapping some parts of Obamacare is just the latest evidence of the enormous cost burdens Obamacare has placed on everyone.

Additional Reading

The Washington Examiner also covered the CBO report.

Note: this article is intended to keep small business owners up on the latest news. It does not necessarily represent the policy stances of NFIB.

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