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$3.5 Trillion is Cost of House Democrats’ Health Legislation, According to Non-Partisan, Independent Analysis

June 24, 2009

Today, HSI Network, a non-partisan, independent health care research firm that has worked with research universities, the federal government and the private sector, released the estimated costs and impacts of the House Democrats’ tri-committee health care discussion draft.  The analysis predicts the House Democrats’ bill will result in $3.5 trillion of new federal spending. 
Ways and Means Committee Ranking Member Dave Camp (R-MI) said, “This is a staggering figure, even in Washington.  A $3.5 trillion price tag is going to cause a lot of people to pause and ask just what is in this bill.  There aren’t enough tax increases or cuts to doctors and hospitals to pay for that level of government spending.  I think even many of my Democrat friends would agree that replacing high health care costs with outrageously high taxes is no solution.” 
In addition to the high cost, HSI Network predicts that 64 million Americans would lose the current private health care coverage under the House Democrat’s bill, meaning the bill is incompatible with promises made repeatedly by President Obama that people who like their current insurance will be able to keep it.
“The President should not back away from his pledge that the American people will be able to keep their health care insurance if they like it – Republicans want to help him keep that promise,” Camp added. “But under this bill, one out of every three Americans under the age of 65 will lose their private health insurance.  We need to strengthen and improve our health care system, not destroy it.”
“Americans want, demand and deserve health care reform, but they want the right kind of health care reform.  I think we need to get back to where the American people are and take a common sense approach to lowering the cost of health care, which is what Republicans are offering.”