WASHINGTON, DC - Working through the weekend, the U.S. Senate today voted 60-40 to advance an historic health insurance reform bill.

U.S. Senator Jack Reed (D-RI), hailed the vote as a victory for Rhode Island and the American people:

"Rhode Islanders have seen their health insurance costs double in just the last decade. We can no longer afford the status quo, and I am pleased we are moving forward with health reform.

"This effort has been decades in the making, and every year that has gone by has made the task more difficult and the need for reform more essential," said Reed, a member of the Health, Education, Labor and Pensions (HELP) Committee.

In 1980, Americans spent $253 billion a year on medical bills. Now, we're paying over $2.4 trillion. That pressure bankrupts over 750,000 families each year and is pushing Medicare toward collapse.

"Today we moved another step closer to passing landmark legislation which will help contain health costs, extend insurance to millions, and give health consumers more protection against discriminatory insurance practices. By shifting the balance of power from insurance companies to consumers we will make health care more affordable for individuals and businesses and provide families with greater health care access and stability," stated Reed.

The non partisan Congressional Budget Office (CBO) estimates it will save taxpayers $132 billion over the next decade and $1.2 trillion over the next twenty years.

"I was pleased to look up and see Senator Kennedy's widow, Victoria Reggie Kennedy, watching this historic vote in the gallery. Senator Kennedy's spirit is with us and his years of hard work and passion are a major part of this reform," noted Reed.

"It is critical that we continue to move forward with this process. Every day we fail to act 14,000 more of our fellow citizens lose their health coverage," said Reed.

Republicans have been trying to stall passage of the bill and have attempted to tie up the Senate in procedural knots to derail health insurance reform. Today's vote was on a motion to end delay those tactics.

"While I wish this bill generated more competition in the insurance market and greater costs savings by creating a non-profit public option, it is equally important that we take this first significant step toward improving the quality of our health care as well as the cost of our health care," said Reed.

Final passage of the legislation is scheduled for December 24th due to Republican parliamentary roadblocks.

The bill then goes to conference with the U.S. House of Representatives. Both chambers must approve the final agreement before going to President Obama to be signed into law.