Today, Congressman John B. Larson (CT-01) announced that the health reform legislation coming to the floor of the House will be one of the largest deficit-reducing measures members of Congress will ever vote on. A new report by The Congressional Budget Office on health care reform finds that the health care legislation proposed by Democrats will create a $118 billion reduction in the federal deficit over the next 10 years, and cut the deficit by $1.3 trillion over twenty years. The legislation also expands health insurance to 32 million Americans, including 462,000 individuals in Connecticut's 1st Congressional District, and improves health benefits for everyone.
"This bill represents the largest reduction to the federal deficit in our nation's history. It is fully paid for and will reduce our deficit by 1.3 trillion over the next twenty years," said Congressman Larson. "This bill is about putting the American people -- not the government or insurance companies -- in control of their health care. We are expanding health care coverage to 95% of Americans and improving care for everyone while we decrease our national debt, restore our economy and create jobs in Connecticut and across the nation."
This legislation will make health care more affordable for everyone. It will hold insurance companies accountable by stopping their worst practices such as denying you coverage because of a pre-existing condition, dropping your coverage when you get sick, or arbitrarily hiking up your premiums.
The legislation will also rein in health care costs-- cutting waste and fraud and compensating doctors for value of care, not volume. Small businesses will receive tax credits to make it easier for them to provide coverage for their workers -- so they don't have to choose between providing health care and hiring new employees. Middle class families will get tax credits to make their health care costs affordable -- so they never have to worry about going bankrupt because of an illness, and seniors will see their prescription drug costs go down.
Congressman Larson added, "Health care decisions should not be made by the government or the insurance companies -- they should be made by you, your family, and your doctor. This bill puts you in charge of your health care while placing our economy on sound fiscal footing for the future."