WASHINGTON (AP) – A senior lawmaker trying to break the logjam on health care overhaul says his committee has come up with elements of a plan that would allow them to produce a bill under $1 trillion that would be fully paid for.

Senate Finance Committee Chairman Max Baucus, D-Mont., made the announcement Thursday. Of the five congressional committees working on President Barack Obama’s top legislative priority, Finance has the best chance of producing a bipartisan bill.

Baucus said the non-partisan Congressional Budget Office confirmed the $1 trillion cost over 10 years.

Obama’s goal is to reduce costs and provide coverage to nearly 50 million uninsured Americans.