WASHINGTON (CNN) – The Senate Finance Committee will vote on its long-awaited health care bill next Tuesday, Majority Leader Harry Reid announced on the Senate floor Thursday.
On Wednesday, the non-partisan Congressional Budget Office estimated that the amended version of the legislation would cost $829 billion over the next 10 years.
It would also reduce the deficit by over $80 billion, the office concluded.
The Finance Committee is the last of five congressional panels to consider health care legislation before debate begins in the full House and Senate. Committee members were waiting for the budget office's cost analysis before voting on their version of the bill.
The measure was initially drafted by Finance Committee Chairman Max Baucus, D-Montana, after months of negotiations with five other panel members - three Republicans and two Democrats. It represents the only proposal so far with the potential to attract any Republican support.
After the Finance Committee votes on its measure, the Democratic leadership in each chamber will meld together single, separate proposals for floor debate in coming weeks.
–CNN's Brianna Keilar contributed to this report