WASHINGTON (CNN) -- House Democrats unveiled their revised version of health care reform Tuesday, offering a proposal that includes a government-funded health insurance option, requires both individuals and employers to participate, and taxes the wealthy to help cover costs. President Obama has urged Congress to work quickly on creating a health care reform bill. Democratic House leaders said the measure, titled "America's Affordable Health Choices Act," met the requirements set by President Obama for health care reform by lowering costs to consumers and businesses, letting people keep their current plan if desired, and preventing denial of coverage due to pre-existing medical conditions.
@highlight
It offers government-funded health insurance option and taxes wealthy
@highlight
Leaders say it meets Obama's requirements on health care reform
@highlight
GOP, some fiscally conservative Democrats oppose components
But House @placeholder slammed the Democrats' bill and pledged to try to amend it as three House committees begin considering the legislation later this week.
Anticipating @placeholder complaints that the tax surcharges would harm small business owners who report their income as personal, Democratic sponsors said the measure would affect less than 5 percent of all small business owners.