Just $111 billion, no big deal.
Via The Hill:
A powerful House Republican wants the Obama administration to explain why it’s asking for an extra $111 billion to implement part of the healthcare reform law.
Ways and Means Committee Chairman Dave Camp (R-Mich.) is asking about a spike in the estimated costs of subsidies to help people buy private insurance — a central, and expensive, component of the new healthcare law.
The administration’s budget request this year included $111 billion more for subsidies than its request last year. The difference falls across the same seven-year window.
“This staggering increase in health insurance exchange subsidy spending cannot be explained by legislative changes or new economic assumptions, and therefore must reflect substantial changes in underlying assumptions regarding the program’s utilization and cost,” Camp wrote Friday in a letter to Treasury Secretary Timothy Geithner.