Government & Elections FEDERAL: What's Congress up to? Repeal Obamacare
FLOOR SITUATION
H.R. 2 will be considered on the House floor on Wednesday, January 19, 2011, under a closed rule. The rule provides for seven hours of debate with one motion to recommit. Majority Leader Cantor (R-VA) introduced H.R. 2 on January 5, 2011.
SUMMARY
H.R. 2 would repeal the Patient Protection and Affordable Care Act of 2010, and Title I and subtitle B of Title II of the Health Care and Education Reconciliation Act of 2010.
The legislative digest for the job-killing health care law can be found here.
Cost
According to the Congressional Budget Office (CBO), H.R. 2 would prevent $770 billion in tax increases and cut spending by $540 billion.
ObamaCare was designed to hide hundreds of billions of dollars in spending from the scorekeepers at the CBO. Below is a list of some of these items:
· Implementation Costs: CBO did not count the $115 billion needed to implement the law, such as hiring more government employees or IRS agents.
· Double Counting: More than $500 billion in double-counting Social Security payroll taxes and Medicare cuts.
· CLASS Premiums: CBO counted $70 billion in premiums from CLASS (the long-term care program Sen. Conrad called a “ponzi” scheme) but not the liabilities
· 10 years of Taxes/6 years of Spending: The CBO score of ObamaCare accounted for the deficit impact for 10 years of tax increases used to offset only six years of spending increases.
Staff Contact
For questions or further information contact Brian McManus.
