Repealing the Affordable Care Act could reduce the deficit by as much as $1.07 trillion, according to a report from the Mercatus Center.

Former President Obama promised the Affordable Care Act would not only guarantee health insurance coverage for Americans with preexisting conditions, but that the law would lower health care costs and reduce the federal budget deficit.

The report notes that Obamacare failed to deliver on providing any fiscal benefits and that repeal of the law would substantially reduce the budget deficit.

“Repeal, effective in 2018, of the ACA’s various spending and tax increases is expected to reduce federal deficits by a combined $586 billion through 2026, with plausible outcomes ranging from $228 billion to $1.07 trillion in net deficit reduction,” the report states.

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