House Speaker John Boehner (R-Ohio) and Minority Leader Nancy Pelosi (D-Calif.) crafted the legislation, which is expected to cost more than $210 billion over 10 years with about $73 billion of that cost offset with spending cuts or new revenue.
President Obama hailed the new Medicare package as a “significant bipartisan achievement,” according to The Hill. “This was a bipartisan effort, Republicans and Democrats coming together to do something that’s smart and common-sense, and my hope is it becomes a habit,” the president said, according to the report.
The U.S. Senate passed the bill in a vote of 92-8 on Tuesday, and the U.S. House passed the legislation with a vote of 392-37 in March.
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