Max Baucus, the Democratic chairman of a closely-watched US Senate committee, unveiled his ideas Wednesday for a sweeping health-care overhaul after months of negotiations with his Republican counterparts, according to dpa. The Senate Finance Committee has been seen as the best hope for producing a reform bill that could pass the US Congress. But Baucus' proposals were released without any hoped-for Republican support, while some left-leaning Democrats also said they had reservations. Charles Grassley, the top Republican on the committee who has haggled with Baucus for months, said there were still "serious outstanding issues" to be resolved. The new 223-page proposal, designed to expand access to about 46 million uninsured and bring down skyrocketing costs, contains some concessions towards conservatives but maintains the bulk of the proposals sought by President Barack Obama's administration. Most significantly, it does not include a government insurance option or "public plan" that Democrats have long insisted must be part of any reforms. Instead it proposes creating not-for-profit co- operatives, owned by consumers and backed by the government, that could inject competition into the health insurance sector. The legislation would also for the first time force individuals to buy health insurance, or face penalties starting in 2013. It would increase subsidies to lower-income Americans to help them get coverage. The Finance Committee is one of five congressional committees that has developed proposals for health care reform. Baucus said Congress was still in the "early stages" of the process. White House spokesman Robert Gibbs called his proposals an "important building block." The bill would cost 856 billion dollars over 10 years, less than the other versions. Baucus insisted its provisions were paid for and said the legislation would not add to an already-surging federal deficit. Obama has said he wants a reform bill passed by the end of the year. The US currently has the most expensive health care system in the industrialized world. Baucus called it a "balanced" bill that had a good chance of passing the Senate and "meets the criteria laid out by President Obama." He still expected some Republicans to support it. "This is our moment in history. This is our chance to reform health care in America. We cannot let this opportunity pass," he said. Baucus and Grassley were part of a bipartisan group of six senators on the committee that have spent months trying to hammer out a compromise. The full committee will hold discussions on Baucus' proposals bill next week. The health-care debate has been highly partisan to date and prompted angry protests from opponents at townhall meetings over the summer. Democrats currently hold 59 seats in the Senate. The party would need at least one Republican to support the reforms to overturn a procedural "filibuster" that allows opponents to block legislation in the chamber. But some on the left believe Baucus surrendered too much ground in the hopes of winning conservative support. Democratic Senator Jay Rockefeller said Tuesday he could not support a bill that did not include a public insurance option. Democrats hold solid majorities in the House of Representatives, though conservative Democrats in that chamber have also expressed reservations about the reforms. House Speaker Nancy Pelosi said her chamber's bill, which includes a public option, "clearly does more" to reduce health costs than the Baucus plan.