CBO Report: AHCA Will Reduce Deficit by $337 Billion

The Congressional Budget Office concluded the American Health Care Act, House Republicans' legislation to replace Obamacare, would reduce the federal deficit by a significant amount.

According to the CBO report, the deficit would see a reduction of $337 billion from 2017 to 2026 if the healthcare law is passed on Capitol Hill and signed into law by President Donald Trump.

News regarding the healthcare act was not all good for Republicans, however. The report claims 14 million people would be uninsured by 2018 if the legislation is enacted. The CBO also predicts monthly healthcare premiums will rise by an average of 15-20 percent in 2018 and 2019.

Health and Humans Services Secretary Tom Price said Monday the CBO did not examine the entire American Health Care Act.

"The CBO looked at a portion of our plan, but not the entire plan," Price said.

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