Washington (CNN) - The non-partisan Congressional Budget Office estimates that the Democrats' revised health care bill will cost $940 billion over the next 10 years, two House Democratic sources told CNN Thursday.
The bill cuts the deficit by $130 billion during that period of time, according to the sources, and would reduce the deficit by another $1.2 trillion in the following decade.
The measure extends health insurance coverage to 32 million Americans, helping to guarantee that 95 percent of Americans will be covered, the sources said. It also reduces Medicare expenditures by 1.4 percent annually while extending Medicare's solvency by at least 9 years, they added.
Rep. Henry Waxman, D-California, told CNN that the CBO estimates are "better than expected."
Waxman said that many of the remaining undecided House Democrats have been concerned about the bill's impact on future federal deficits.
The CBO estimates "will go a long way to get them to feel comfortable with the legislation," he predicted.
GOP leaders said the new CBO estimates had not changed their opinion of the bill, which they vehemently oppose.
The Democrats are "still going to spend a trillion dollars to impose government health care on the American people," said House Minority Leader John Boehner, R-Ohio.
"It's not too late for the American people to continue to speak up," he said. "They need to yell a little louder and we can stop this."
The health care bill passed by the Senate in December would cost $875 billion over the next decade while reducing federal deficits by $118 billion, according to the CBO.
Democrats have been making a series of changes to the Senate bill in recent weeks in part to make the measure more acceptable to House liberals.
–CNN's Ted Barrett, Dana Bash, Brianna Keilar, and Alan Silverleib contributed to this report
(This story was updated at 10:20 a.m. EST with additional information)