President Obama has signed into a law an expansion of State Children's Health Insurance Program (SCHIP).
The program is aimed at children whose families are unable to afford private coverage but earn too much to be eligible for Medicaid. The enactment comes soon after the House voted 290-135 for the expansion, which will give coverage to more than 11 million uninsured children from 7.4 million last year.
The expansion of SCHIP is expected to cost approximately $33 billion over four years and will be financed by raising the federal cigarette tax to $1.01 per pack.
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