CBO: Reconciliation Bill Gutting Key Parts Of Obamacare Would Cut Deficit By $516 Billion Over Ten Years

Guy will have more on the vote tomorrow, but the House is projected to send a bill that will gut key provisions of Obamacare and defund Planned Parenthood for a year. The legislation, passed by both Chambers via reconciliation, is expected to be vetoed by President Obama, who knows Republicans don’t have the votes to override it. Yet, unlike past Obamacare repeal attempts, this one will actually make it out of Capitol Hill. It’s a symbolic victory, but one that would cut the deficit by at least $500 billion over the next decade, according to the Congressional Budget Office (via the Hill):

A GOP-led effort to repeal the biggest parts of ObamaCare would cost about $42 billion less than previously expected, saving more than a half-trillion dollars over a decade, the congressional budget scorekeeper said Monday.

Legislation to gut most of ObamaCare's mandates and taxes, known as Restoring Americans’ Healthcare Freedom Reconciliation Act, would reduce the deficit by $516 billion over 10 years, according to the Congressional Budget Office (CBO).