"We are much closer on the scores for a health care reform package than we were at this point last week. We have options the Congressional Budget Office tells us would cost under $1 trillion and are fully paid for," said Baucus in a statement. "Based on these developments, I'm even more confident in our ability to move forward."
Although Baucus originally hoped to pass legislation through the Finance Committee before this week's Independence Day recess, he slowed the process in order to trim $600 billion from the bill. The committee will likely begin markup after the recess.
"As I've said before, we will not put out a mark until we are sure we have it right," said Baucus. "I'll continue to work with Senator Grassley and senators on both sides of the aisle to turn these options into a package that can pass the Senate and become law this year."
Andrew Webber, president and CEO of the National Business Coalition on Health, emphasizes the importance of focusing reform efforts on cost containment, rather than expansion, insurance and preventative care, which he says have taken center stage so far. "The employer-purchaser community has been saying from day one that we've got to develop serious cost containment options to be able to afford expansion of health insurance," he says.
CBO has also scored a government-run long-term care program included in the Health, Education, Labor and Pensions Committee bill currently under markup. The program would produce approximately $58 billion in government revenue over the next 10 years, as far ahead as CBO typically estimates. However, according to CQ Politics, Democrats say spending on the program is likely to increase after 10 years and that enrollment would likely need to close or premiums to rise significantly for it to remain viable.
