UPDATE: The CBO published their estimate on May 24. Read the key takeaways here.
The Congressional Budget Office (CBO) is expected to release a cost estimate on the newest version of the American Health Care Act (AHCA) next week.
On May 4, The House voted 217-213 to approve the bill without a cost estimate.
In order to pass the AHCA through the Senate, Republicans have strategized to consider it “through a special budget ‘reconciliation’ process for spending matters.” Senate Parliamentarian Elizabeth MacDonough needs the CBO’s estimate before she can begin her review.
Working with The Joint Committee on Taxation (JCT), the CBO provided estimates for the previous version of the AHCA bill in March. They determined that version of the AHCA would:
- Reduce the federal deficit by about $337 billion by 2026
- Cause about 24 million fewer Americans to be insured by 2026
- Bring about a spike in average individual market premiums during the first two years of the new legislation
- Result in a steady decline in average individual market premiums over the next eight years, with premiums landing at 10 percent below current levels
The CBO stated they will “provide advance notice of the date and time of release before publishing it.” They anticipate publication early in the week of May 22.