The law, if passed, is going to be the largest overhaul in the U.S. healthcare system in more than 40 years. It will take 10 years with a cost of $871 billion to cover 31 million uninsured citizens. Also it would cover 94% of people under 65, and cut the deficit by $132 billion after the first 10 years, according to projections.Senate Majority Leader Harry Reid is looking forward to approving the final passage by December 24.
However, the law is facing strong oppositions by Republicans who see the new overhaul will increase taxes and swells the federal budget deficit. On the other hand, others consider the measure would raise expenses for households and small businesses as well as reducing quality of insurance. In addition, some health insurers and companies may generate millions of new customers, but also they will have to pay billions of dollars as fees.