Senate health bill comes in at $849B

The Senate healthcare bill soon to be unveiled by Majority Leader Harry Reid (D-Nev.) would spend $849 billion over 10 years to cover 31 million of the uninsured and reduce the federal budget deficit by $127 billion over 10 years.

According to information about the Congressional Budget Office (CBO) cost estimate of the bill provided by a leadership aide, the bill also would reduce the deficit by as much as $650 billion over the second 10 years, though the CBO has consistently emphasized that projections outside the first 10 years are highly uncertain.

Reid plans to unveil the bill to the entire Democratic caucus at 5:00 p.m. Wednesday and will hold a press event Thursday afternoon to make a full announcement.

Fuller details about the bill and the complete CBO score should become available during and after the Democratic senators meet.