The GOP is moving on from its Obamacare repeal bill, but not without some serious damage to the law’s foundation.
A new report from the nonpartisan Congressional Budget Office (CBO) says the bill could lead to a 26 million to 34 million uninsured in 2026 and a 10 to 20 percent increase in the number of Americans who get insurance through their jobs.
The CBO’s analysis of the legislation was released Monday.
It shows the bill would result in an increase in premiums for 20 million Americans by 2026, and an additional 14 million to 21 million people could be left uninsured by 2027.
The bill also would raise taxes on millions of middle-income families, with some estimates of the effects running as high as $600 billion a year.
CBO expects that repealing the law would lead to the loss of more than $5 trillion over 10 years, but that loss could be offset by a $3.4 trillion in tax revenues over 10 months.
The Senate bill passed with a 55-45 vote, and the House passed it on a 217-213 vote on a bipartisan basis last month.
Senate Majority Leader Mitch McConnell (R-Ky.) told reporters Monday that the bill is a “good starting point” for a replacement.
“But if we’re going to move forward, we’ve got to be able to come to an agreement,” he said.
The repeal bill will now move to the Senate floor.
Republicans are now working to get a bill on the president’s desk by Christmas.
“This is the first step,” said Senate Minority Leader Chuck Schumer (D-N.Y.).
“We’ll see what the final bill looks like and then we’ll get to the next step.”
But with Republicans pushing a plan that doesn’t include a replacement, they will likely face significant resistance from Democrats, who have said they will block the repeal bill if it fails to include a mechanism for people to keep insurance if they get sick or die.