WASHINGTON – Today, after the non-partisan Congressional Budget Office (CBO) released their long awaited report on Washington Republicans’ health care repeal bill, Congresswoman Cheri Bustos (IL-17) issued the following statement:
“During the campaign, President Trump promised he would never cut Medicaid – with today’s non-partisan report from the Congressional Budget Office, he has officially broken that promise by cutting nearly $1 trillion from this vital lifelines for seniors, children with disabilities and pregnant women. For nearly seven years, Washington Republicans have hidden their health care repeal plan because they knew it would lead to higher costs, worse care and less coverage for millions of Americans. In addition to making devastating cuts to Medicaid, we also know that 24 million Americans will lose their health care coverage under this plan, all so Washington Republicans can give the wealthiest Americans billions of dollars in tax breaks. We need to work together to lower out-of-pocket costs and bring down prescription drug prices, but this ‘pay more for less’ bill would take us in the wrong direction by hurting seniors, children and hardworking families.”
During the campaign, President Trump repeatedly promised to never cut Medicare, Medicaid or Social Security:
Key Findings of the CBO Report
- 24 million Americans will lose their health coverage – including 14 million in 2018 alone;
- Under the GOP bill, 19 percent of the nonelderly population will be uninsured in 2026, compared to 10 percent in 2026 under current law.
- The bill would have the effect of slashing Medicaid by $880 billion over the next 10 years.
- Under the GOP bill, a 64-year-old with an income of $26,500 in the individual market will pay $12,900 more in their premiums each year.
- The bill gives $600 billion in tax cuts to the wealthiest Americans and large corporations – including $2.8 billion to the 400 richest families in America alone.