One day after Senate Majority Leader Harry Reid's, D-Nev., $848 billion health care reform plan was made public, the war of words between Democrats and Republicans over the bill continued.
The 2,074-page bill was released on http://democrats.senate.gov/ Wednesday night, marking the first time it has been openly available to be viewed by the public.
According to Democratic aides, the bill will reduce deficits by $127 billion over a decade and would require most Americans to have health insurance.
To help those with lower incomes afford coverage, the bill would provide hundreds of billions in subsidies.
The bill would not require employers to offer coverage, though it does require that medium and large companies pay a fee if the government subsidizes their employees' insurance.
The bill also contains a public option that states would be able to opt out of after a year, should they wish. This public option is one of the most highly debated aspects of the bill, and many say it is the reason Reid is struggling to gain 60 votes for the bill.
"As the President asked us to do, we will not add a dime to the deficit," Reid said Thursday of the legislation. "Quite the opposite, in fact: We will cut it by $130 billion in the first 10 years and by as much as three-quarters of a trillion dollars in the first 20."
Reid said this would be accomplished by keeping costs down, as it will cost less than $85 billion a year over the next decade.
"We will make sure nearly every American can afford quality health care," Reid added. "We will make sure more than 30 million Americans who do not have health care today will have it soon."
Reid revealed that he would hold a test vote on Saturday to see where the bill stands in terms of getting the 60 votes needed to begin debating the bill in the full Senate.
Meanwhile, Senate Republican Leader Mitch McConnell, R-Ky., argued that Democrats are trying to rush the bill through the Senate without allowing for proper debate on it.
"The bill we are being asked to consider was assembled behind closed doors, out of sight without input from the public for over the last 6 weeks," McConnell argued.
He added, "We are being told we must rush to pass this legislation, even though most of its provisions won't take effect for another five years — until 2014. That's a little bit like being asked to pay your mortgage four years before you're allowed to move into your house."
McConnell further argued that, when Reid's bill is fully implemented, it will cost $2.5 trillion.
"According to CBO, federal health care spending will actually go up, not down as a result of this mammoth effort to rewrite one-sixth of our economy," McConnell said.
He added, "It cuts Medicare by $465 billion, nearly half a trillion dollars in cuts to a program that is so important to our seniors. Hospitals, Medicare Advantage, nursing homes, home health, hospice—all of those will be slashed in this $465 billion cut to Medicare."
McConnell further argued that the legislation would raise taxes by $493 billion.
"After 6 weeks of drafting a bill behind closed doors, the Majority has produced a bill that increases premiums, raises taxes, and slashes Medicare by half a trillion dollars to create a new government program," McConnell argued.
He concluded, "This is not what the American people want. I don't believe they think this is reform. This is not the direction to take."
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.