OT:CBO: Health bill spends $871B, reduces deficit by $132B

According to the Congressional Budget Office (CBO), the latest version of the legislation introduced by Senate Majority Leader Harry Reid (D-Nev.) would require $871 billion over 10 years in new federal spending, most of which would take the form of health insurance subsidies for low- and middle-income people and expansions of Medicaid and the Children’s Health Insurance Program.
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Those costs are more than offset during the 10-year budget period by $483 billion worth of spending reductions in Medicare and $614 billion generated from an excise tax on high-cost health insurance plans, taxes on healthcare companies, penalty fees paid by employers who fail to offer insurance coverage and individuals who fail to purchase it and other tax effects of the bill.