In fact it is likely to increase them, along with health costs.
Without action, he predicted, health costs would be $100 billion by 1975.
We tax cigarettes in part because of their health cost.
"I don't think it would be an effective way to hold down health costs," he said.
They point to the strong financial performance of the companies after the much larger 1998 settlement with the states over health costs.
They say mental health costs are difficult to control, even with managed care.
He said health costs were "growing at a fantastic rate."
But Republicans say it will encourage people to pay more attention to their health costs.
Even if you have insurance, mental health costs can quickly add up with long-term treatment.
At the present time, health costs are 13 percent of the payroll and rising, he said.