H.R. 2—Repealing the Job-Destroying Health Care Law Act

H.R. 2—Repealing the Job-Destroying Health Care Law Act

FLOOR SITUATION
H.R. 2 will be considered on the House floor on Wednesday, January 19, 2011, under a closed rule. The rule provides for seven hours of debate with one motion to recommit. Majority Leader Cantor (R-VA) introduced H.R. 2 on January 5, 2011.

SUMMARY
H.R. 2 would repeal the Patient Protection and Affordable Care Act of 2010, and Title I and subtitle B of Title II of the Health Care and Education Reconciliation Act of 2010.

The legislative digest for the job-killing health care law can be found here.

Cost
According to the Congressional Budget Office (CBO), H.R. 2 would prevent $770 billion in tax increases and cut spending by $540 billion.

ObamaCare was designed to hide hundreds of billions of dollars in spending from the scorekeepers at the CBO. Below is a list of some of these items:

· Implementation Costs: CBO did not count the $115 billion needed to implement the law, such as hiring more government employees or IRS agents.
· Double Counting: More than $500 billion in double-counting Social Security payroll taxes and Medicare cuts.
· CLASS Premiums: CBO counted $70 billion in premiums from CLASS (the long-term care program Sen. Conrad called a “ponzi” scheme) but not the liabilities
· 10 years of Taxes/6 years of Spending: The CBO score of ObamaCare accounted for the deficit impact for 10 years of tax increases used to offset only six years of spending increases.