Will Obamacare Kill Medical Innovation?
How much will the current healthcare proposal cost? The current proposal would cost about $1.3 trillion over 10 years, according to the nonpartisan Congressional Budget Office (CBO). The plan would be paid for through new income taxes, cuts to Medicare and Medicaid, and tax penalties paid by individuals and employers who don’t obtain healthcare coverage. According to the CBO, the current healthcare proposal will add more than $230 billion over the next ten years to our already-massive federal budget deficit. The additional healthcare spending would come on top of the $2.29 trillion Congress has already authorized in spending this year alone.