On March 11, the Congressional Budget Office (CBO) released a new estimate of spending and revenue effects of the health care overhaul bill, HR 3590. In a letter to Senate Majority Leader Harry Reid (D-NV), the CBO states that the estimate differs from the December 19 estimate because it incorporates all the amendments adopted by the Senate, new assumptions about the date of enactment, and technical revisions. The CBO and Joint Committee on Taxation now estimate that the bill would yield a net reduction in federal deficits of $118 billion from 2010 through 2019. Another estimate on the reconciliation package may be published this week.
House Education and Labor Committee Chairman George Miller , D-Calif., was asked by reporters about reports that preliminary CBO scores showed that the reconciliation bill does not save $2 billion over five years as required under budget rules, and that the costs of the total bill topped $1 trillion. “I don’t know that yet,” he replied. “We’re waiting to hear back from CBO. When I left the meeting last night, we were sending it back to CBO.”