Affordable Care Act – New Cost Estimate
March 22, 2012
In case you missed it, late last week the Congressional Budget Office (CBO) released a new cost estimate for the Patient Protection and Affordable Care Act (ACA). During the debate in Congress, which was just over two-years ago, the estimate was roughly $900 billion over ten years. The $900 billion figure is important because common thought at the time was that there were not enough votes in Congress if the cost was over a trillion dollars. The new estimate – $1.762 trillion over ten years.
At the same time, the estimated impact on the overall federal deficit is better than in previous estimates. This is because, at least in part, due to the number of small businesses that are unable or unwilling or take advantage of the tax incentives provided in the law. More than likely you have encountered this reality with some of your customers.