The GOP’s healthcare bill will likely become the first of several major legislative victories for the party on the eve of the 2020 presidential election, according to analysts.
But the most dramatic achievement of the GOP plan is the first-ever federal law mandating that all state and local governments obtain universal health coverage, the nonpartisan Congressional Budget Office said in a new analysis of the legislation.
The CBO also projected that the GOP healthcare bill would create 4.1 million jobs and increase federal revenue by $6.2 trillion, mostly by taxing corporations and the wealthy more heavily.
The new CBO analysis was based on analysis of legislation the House and Senate passed in January that would provide insurance to about 4.5 million Americans who do not have it currently.
The House bill is expected to pass the Senate this week, and the Senate will vote on the House bill later this week.
But even if Republicans manage to pass both the House-passed version and the legislation, it will not pass the House.
President Donald Trump has promised to sign it.
House Speaker Paul Ryan, R-Wis., and Senate Majority Leader Mitch McConnell, R,Ky., have been pushing for a bipartisan bill to stabilize the Affordable Care Act, a move that is likely to come as a major blow to the Trump administration.
Republicans have a majority in both chambers and can push the legislation through without Democratic support, but they are facing resistance in the Senate and from Democrats.
Some Republican lawmakers are skeptical of the CBO’s analysis because they believe it is too pessimistic about the bill’s impact on the economy.
In its analysis, the CBO predicted that the Senate bill would lead to a loss of jobs and revenue of $1.5 trillion, a result that is far higher than what the Congressional Budget Bureau has projected.
While the CBO found that the bill would cost $1 trillion in lost jobs and $1,000 in lost revenue over the next decade, it said that the CBO “could have foreseen much lower outcomes.”
The CBO has been predicting the health care bill would cause job losses and raise costs for a decade.
But Republicans and business groups have argued that the plan would lead the economy to become even more robust and that it would be a boon for the economy by providing coverage to millions of Americans who are uninsured.
The House bill also contains several provisions that critics say will make it harder for small businesses to stay in business.
It also eliminates the tax break for employer-sponsored insurance and eliminates the requirement that insurers provide affordable, high-quality coverage to their employees.
The GOP bill would allow insurers to charge older people up to 20 percent more for coverage.
Republicans also want to limit the federal government’s ability to use the tax code to help pay for Medicaid expansion.
The nonpartisan Congressional Research Service said that it is “very unlikely” that the House would enact such a law.
The Republican plan would also eliminate the tax credits that the Affordable Healthcare Act provides to low-income people to help them afford health insurance, including the refundable tax credit for individuals and the refundably subsidized tax credit that the ACA allows individuals to use to purchase coverage.
It would also reduce the maximum tax deduction for charitable contributions to $10,000.
The Senate bill does not offer a refundable charitable deduction.
“The Republican health care plan will be a huge tax cut for the wealthy and the corporations,” said Robert Zirkelbach, director of the Tax Policy Center.
“It will also result in the loss of thousands of jobs, which will lead to the rise of government debt and economic instability.”
The Congressional Budget Association also found that a reduction in the individual mandate, which requires most Americans to buy insurance, would lead states to see their economies shrink.
Republicans in the House have been working to pass their health care legislation through the Senate, but it has not been able to pass without Democratic votes.
Republicans will be able to hold onto both chambers of Congress in the coming weeks, and there is no guarantee that the party will prevail in the midterms.
President Donald Trump will need to sign the bill into law, and Democrats are expected to oppose it.