Repealing the Patient Protection and Affordable Care Act — a top priority for many Republican lawmakers — would cause a net increase in the federal budget deficit of $109 billion from 2013 through 2022, according to a Congressional Budget Office report.
The CBO findings estimate the direct spending and revenue effects of the recently passed House Resolution 6079, the Repeal Obamacare Act. While the repeal would reduce direct spending by $890 billion, it would reduce revenue by $1 trillion.
Revenue lost in the House repeal of the PPACA includes penalty payments from employers and uninsured individuals, revenues from the excise tax on high-premium insurance plans and net savings from other coverage-related effects, according to the CBO. Those taxes drive much of the funding of the 2010 healthcare law.
The CBO acknowledges its projections are "quite uncertain because they are based, in large part, on projections of the effects of the [PPACA], which are themselves highly uncertain."
The House's Repeal of Obamacare Act is unlikely to pass through the Democrat-controlled Senate, as Majority Leader Harry Reid (D-Nev.) has vowed to block any vote to repeal the PPACA.
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The CBO findings estimate the direct spending and revenue effects of the recently passed House Resolution 6079, the Repeal Obamacare Act. While the repeal would reduce direct spending by $890 billion, it would reduce revenue by $1 trillion.
Revenue lost in the House repeal of the PPACA includes penalty payments from employers and uninsured individuals, revenues from the excise tax on high-premium insurance plans and net savings from other coverage-related effects, according to the CBO. Those taxes drive much of the funding of the 2010 healthcare law.
The CBO acknowledges its projections are "quite uncertain because they are based, in large part, on projections of the effects of the [PPACA], which are themselves highly uncertain."
The House's Repeal of Obamacare Act is unlikely to pass through the Democrat-controlled Senate, as Majority Leader Harry Reid (D-Nev.) has vowed to block any vote to repeal the PPACA.
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CBO: Healthcare Spending to Dominate Federal Budget