CBO projection estimates that ObamaCare will cost $1.76 trillion over 10 years

Washington, D.C.– House Republican Policy Committee Chairman Tom Price, M.D. (R-GA) issued the following statement regarding the Congressional Budget Office’s (CBO) updated cost estimate of the president’s health care law. The new CBO projection estimates that the law will cost $1.76 trillion over 10 years – well above the $940 billion Democrats originally claimed.

“The longer the president’s health care law remains on the books, the greater the threat it poses to our nation’s health care and our fiscal wellbeing,” said Chairman Price. “The CBO’s revised cost estimate indicates that this massive government intrusion into America’s health care system will be far more costly than was originally claimed. The law’s true cost to American taxpayers is part of a series of promises President Obama and Democrats in Congress made that will be broken. Both fiscally and for the sake of our health care system, Americans cannot afford the president’s health care law.

“At the start of this Congress, Republicans in the House of Representatives were quick to fulfill our pledge to repeal the law, and we have continued to make progress in going after its many destructive components. As the Supreme Court prepares to hear arguments on the constitutionality of the law, the House will work to repeal the health care law’s Independent Payment Advisory Board – a group of 15 unelected, unaccountable bureaucrats empowered to effectively deny care to seniors. This law is an affront to the principles of health care in this nation. It undermines accessibility, affordability, choices, portability, quality, and responsiveness of care. The fight to fully repeal it and replace it with positive, patient-centered solutions must remain a top priority.”

NOTE: Chairman Price has introduced legislation – H.R. 3000, theEmpowering Patients First Act– that would repeal and replace ObamaCare with patient-centered solutions. For more information on H.R. 3000, click here.

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TEXT and IMAGE CREDIT: House Republican Policy Committee 403 Cannon House Office Building Washington, DC 20515 Office (202) 225-4501 Fax (202) 225-4656