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H.R. 1628, American Health Care Act of 2017 1 (May 24, 2017)

handle is hein.congrec/cbo3515 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE May 24, 2017 H.R. 1628 American Health Care Act of 2017 As passed by the House of Representatives on May 4, 2017 SUMMARY The Congressional Budget Office and the staff of the Joint Committee on Taxation (JCT) have completed an estimate of the direct spending and revenue effects of H.R. 1628, the American Health Care Act of 2017, as passed by the House of Representatives. CBO and JCT estimate that enacting that version of H.R. 1628 would reduce the cumulative federal deficit over the 2017-2026 period by $119 billion. That amount is $32 billion less than the estimated net savings for the version of H.R. 1628 that was posted on the website of the House Committee on Rules on March 22, 2017, incorporating manager's amendments 4, 5, 24, and 25. (CBO issued a cost estimate for that earlier version of the legislation on March 23, 2017.)1 In comparison with the estimates for the previous version of the act, under the House- passed act, the number of people with health insurance would, by CBO and JCT's estimates, be slightly higher and average premiums for insurance purchased individually-that is, nongroup insurance-would be lower, in part because the insurance, on average, would pay for a smaller proportion of health care costs. In addition, the agencies expect that some people would use the tax credits authorized by the act to purchase policies that would not cover major medical risks and that are not counted as insurance in this cost estimate. Effects on the Federal Budget CBO and JCT estimate that, over the 2017-2026 period, enacting H.R. 1628 would reduce direct spending by $1,111 billion and reduce revenues by $992 billion, for a net reduction of $119 billion in the deficit over that period (see Table 1, at the end of this document). The provisions dealing with health insurance coverage would reduce the 1. Congressional Budget Office, cost estimate for H.R. 1628, the American Health Care Act, incorporating manager's amendments 4, 5, 24, and 25 (March 23, 2017), ..w.cbogov/publication/52516

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