A new report from the nonpartisan Congressional Budget Office estimates that the Affordable Care Care Act would have increased premiums by between $1.5 trillion and $2.2 trillion over the next decade if current law is implemented.
The report estimates that $1 trillion of the $2 trillion of costs could be avoided by allowing insurers to sell plans with lower deductibles and copays.
“Obamacare did not address these issues and the Affordable Health Care Act is unlikely to address them,” the CBO said in its report.
The CBO’s analysis is based on an analysis of the Senate bill passed in March, which included $2,000 in tax credits to help low-income individuals afford health insurance.
The Congressional Budget office is the nonpartisan, nonpartisan research arm of Congress that evaluates policy proposals.
The budget office is not the official scorekeeper for the law, but it is an important source of information for policymakers, and the CBO has said it is willing to adjust its estimates if necessary.
President Donald Trump’s administration says it would like to keep the tax credits, but the Congressional Budget offices report is a major setback for the Trump administration.
Republicans argue that the CBO is biased because it doesn’t look at the effects of the tax credit itself.
The administration wants to increase premiums and deductibles, but also has proposed to eliminate the subsidies that help people buy health insurance and instead replace them with tax credits.
Republicans say the CBO’s report shows that the law will have negative consequences for the economy and the American people.
But the CBO report shows it will have no positive effects, said Mark Zandi, chief economist at Moody’s Analytics.
“We’ve seen that in the past, and we’ll continue to see it,” Zandi said.
The Senate bill included $1,400 in tax credit payments to help people purchase health insurance, which would have allowed millions of people to buy insurance.
That money could have saved insurers about $1 billion per year, the CBO found.
The bill included a $2 billion increase in funding for Medicaid and $4 billion to provide subsidies to help states help low and middle-income people purchase insurance.
Both of those increases were included in the bill.
Democrats have repeatedly said that they would have liked to have increased subsidies to cover people who don’t have insurance and would have provided more money for states to offer coverage to low- and middle, low- or moderate-income residents.
Trump has proposed raising the maximum subsidy amount for Medicaid from $6,500 to $12,000 per person.
Republicans have argued that this money would have been better spent on the prevention of the new disease, diabetes and cancer.
“These are the kind of reforms that will help us address the rising cost of care,” Senate Minority Leader Chuck Schumer, D-N.Y., said in a statement.