October 29, 2009 House Democrats' plan includes public option Play video

(NECN: Kristy Lee) - Democratic House leaders called it nothing short of historic.

"The drive for health care reform is moving forward. The Affordable Health Care Act will ensure, again, affordability for the middle class, security for our seniors, and responsibility to our children," House Speaker Nancy Pelosi (D-Calif.) said.

"What a day. What a day for America and what a day for all of our people," House Majority Leader Steny Hoyer (D-Md.) said.

After months of compromises, House Democrats presented a health care reform plan designed to cover 36 million more Americans and cut the deficit.

"They forged a strong consensus that represents a historic step forward. This bill includes reform that will finally help make quality health insurance affordable," President Obama said.

The House plan includes a public option, costs $894 billion, includes a mandate requiring universal health care and is paid for in part by a 5.4 surtax on the wealthy. Republicans declared it ineffective and overreaching.

"It's going to raise the cost of American health insurance," Rep. John Boehner (R-Ohio) said. "It's going to kill jobs with tax hikes and new mandates in it. And it's going to cut seniors' health care benefits."

Despite total GOP opposition, Speaker Pelosi expected the House to approve the Affordable Health Care Act by November 11th -- Veterans' Day.