The House of Representatives gave final approval to a sweeping healthcare overhaul, expanding insurance coverage to nearly all Americans and handing President Barack Obama a landmark victory.

Republicans and industry critics said the bill was a heavy-handed intrusion in the healthcare sector that will drive up costs, increase the budget deficit and reduce patients´ choices. The new system will remind of that already existing in Western Europe. Republicans claim it will be based on “socialist” principles, reported Reuters.

Democrats claim it would require most Americans to have health coverage, give subsidies to help lower-income workers pay for coverage and create state-based exchanges where the uninsured can compare and shop for plans.