President Barack Obama has signed into law the “fixes” to the newly enacted health care reform bill. The changes finalize the health care overhaul and makes the government the issuer of all federal college loans.
This was the second step for Democratic-led House and Senate to approve a health care package. These reforms will impact virtually all Americans.
The bill increases the overall cost of the health care reform legislation to $940 billion over the next 10 years, $65 billion more than the original health care bill Obama signed into law last week.
Among other things the “fixes” bill significantly expands health insurance subsidies for lower- and middle-income families while watering down a tax on expensive health policies.
Some other unpopular provisions were removed from the original bill and Democrats added in a rewriting of college aid. The new law strips banks of their ability to issue federal student loans in favor of direct government lending.
The “fixes” bill received final legislative approval Thursday in a 220-207 vote in the House of Representatives. No Republicans backed the measure, which GOP leaders insist will lead to cuts in critical Medicare services while doing little to slow spiraling medical costs.
Earlier in the day, the Senate approved the plan on a 56-43 vote, also without any Republican support.