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Very good news and a big blow to the "party of No". The CBO reports the house bill will save $104 Billion over 10yrs!. It will also cost $894 billion just under the 900 billion President Obama prefers.

CBO Report October 29,2009

Estimated Budgetary Impact of H.R. 3962
According to CBO and JCT’s assessment, enacting H.R. 3962 would result
in a net reduction in federal budget deficits of $104 billion over the 2010–2019 period (see Table 1). In the subsequent decade, the collective effect of its provisions would probably be slight reductions in federal budget deficits. Those estimates are all subject to substantial uncertainty
.

The estimate includes a projected net cost of $894 billion over 10 years for the proposed expansions in insurance coverage. That net cost itself reflects a gross total of $1,055 billion in subsidies provided through the exchanges and related spending), increased net outlays for Medicaid and the Children’s Health Insurance Program (CHIP), and tax credits for small
employers; those costs are partly offset by $167 billion in collections of
penalties paid by individuals and employers.

On balance, other effects on revenues and outlays associated with the coverage provisions add $6billion to their total cost.

Full PDF report here

Will update as i get more

Over the 2010–2019 period, the net cost of the coverage expansions would
be more than offset by the combination of other spending changes, which
CBO estimates would save $426 billion, and receipts resulting from the
income tax surcharge on high-income individuals and other provisions, which JCT and CBO estimate would increase federal revenues by $572billion over that period.

Provisions Regarding Insurance Coverage
H.R. 3962 would take several steps designed to increase the number of
legal U.S. residents who have health insurance. It would require individuals to purchase health insurance, starting in 2013, and would in many cases impose a financial penalty on people who did not do so. The bill also would establish new insurance exchanges and would generally subsidize the purchase of health insurance through those exchanges for qualified individuals and families with income between 150 percent and 400 percent of the federal poverty level (FPL).

Originally posted to indepenocrat on Thu Oct 29, 2009 at 02:06 PM PDT.

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