Health Care Reform, Legislation | featured news

With the strokes of 20 pens, President Obama signed his health care overhaul — the most sweeping social legislation enacted in decades — into law on Tuesday during a festive, at times raucous, White House ceremony.

In a report to be released Friday, Harvard and USC economists say legislation being considered would slow cost increases and free up money for companies to raise wages and hire more workers.

National healthcare legislation in Congress could slow the growth of medical costs, allowing employers to create 250,000 to 400,000 new jobs a year over the next decade, economists from Harvard University and USC are predicting.

A second Republican senator signaled Wednesday she's open to voting for sweeping health care legislation this year, putting President Barack Obama closer to a historic achievement that has eluded generations of Democratic leaders.

Reacting to an amendment proposed by Sen. Jon Cornyn (R-Texas) during the Senate Finance Committee's markup of health care reform legislation on Thursday, committee member Jay Rockefeller (D-W.Va.) called his colleague a pawn of the health insurance industry.

"This is a very, very important amendment and it's a very, very bad amendment," said Rockefeller. "If there's anything which is clear, it's that the insurance industry is not running this markup, but is running certain people in this markup."