(WQOW) -- As Speaker Paul Ryan (R-WI-1) emphasized the budget savings contained in the CBO report on the American Health Care Act released Wednesday, Sen. Tammy Baldwin slammed the projected loss of insurance for 23 million Americans.
The CBO estimates that 14 million of those expected to lose benefits are currently covered under Medicaid, the federal insurance program for the poor.
While fewer people would have insurance under the plan, the CBO found the average cost of health insurance premiums would go down.
"This CBO report again confirms that the American Health Care Act achieves our mission: lowering premiums and lowering the deficit. It is another positive step toward keeping our promise to repeal and replace Obamacare," wrote Speaker Ryan in a statement.
The federal budget deficit will decrease by $119 billion under the plan, according to the CBO report.
But premiums would only decrease for adults in states that continue the Obamacare requirement that insurance companies cover essential health benefits - such as emergency room visits, maternity care and mental health treatment.
The AHCA would allow states to opt out of requiring such coverage.
The AHCA would also allow insurers to charge much higher prices to older Americans seeking coverage.
"There's an age tax contained in this measure that the House passed that would result in significantly higher costs for older Americans 50 to Medicare-eligibility age," said Senator Tammy Baldwin (D-WI).
Representative Ron Kind (D-WI-3) also issued a scathing statement following the CBO release, writing: "Today’s report from the Congressional Budget Office, the nonpartisan referee responsible for finding the impact of policies, reinforces that the Congressional Republican Health Bill is a bad deal for hardworking rural Wisconsinites. Many Wisconsinites with pre-existing conditions would have difficulty purchasing health insurance and would see a drastic increase in the price, older Wisconsinites could see their insurance premiums go up by over $10,000, and almost 23 million Americans would lose their health insurance by 2026.”
Republicans in the Senate are expected to either dramatically change the House bill or write their own.