[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2009/POLITICS/09/16/health.care/art.max.baucus.gi.jpg caption=" Sen. Max Baucus will reveal his panel's compromise health care reform plan on Wednesday."]WASHINGTON (CNN) - The chairman of the Senate Finance Committee unveiled a summary of his long-awaited health-care plan Wednesday, setting the stage for a legislative showdown on President Barack Obama's top domestic priority.
The bill, crafted by Sen. Max Baucus, D-Montana, would cost $856 billion over 10 years and mandate insurance coverage for every American.
In a written statement, Baucus claimed the bill - released with no Republican support - would not add to the federal deficit.
The measure drops the public-health-insurance option favored by Obama and many Democratic leaders, according to the summary. As expected, the plan instead calls for the creation of non-profit health-care cooperatives.