Trump Tax Law Projected to Cause Millions to Lose Health Coverage and Reduce Income for Poorest
President Trump's tax law is projected to cause millions of Americans to lose health insurance and reduce income for the poorest, while benefiting the wealthiest.
Millions to lose health insurance and food stamps from GOP tax bill
Washington Examiner
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Overview
- President Trump's tax and spending law is projected to lead to approximately 10 million Americans losing health insurance coverage by 2034, impacting various programs.
- The legislation is expected to primarily benefit the wealthiest Americans, with an average income increase of $13,600, while reducing income for the nation's poorest citizens.
- The poorest Americans are estimated to lose around $1,200 annually due to restrictions on government programs, including changes to Medicaid and reductions in food assistance.
- Specifically, 7.5 million people are projected to lose Medicaid coverage, with 5.3 million affected by new work requirements introduced under the tax law.
- An additional 4.2 million Americans are projected to lose coverage under the Affordable Care Act and Obamacare marketplace exchange health plans over the next decade.
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Analysis
Center-leaning sources frame this story by emphasizing the tax law's disproportionate benefits for the wealthy and negative impacts on the poor, citing CBO data. They highlight Democratic opposition and public discontent, while presenting Republican defenses as attempts to "sell" a controversial bill. The narrative consistently underscores the law's adverse effects on social programs and low-income Americans.
"The combination of the tax law, expiring tax credits and overall rising medical costs will make insurance premiums more expensive for everyone."
USA TODAY"The CBO estimates that the 10% of poorest Americans will lose roughly $1,200 a year as they experience restrictions on government programs like Medicaid and food assistance, while the richest 10% of Americans will see their income increase by $13,600 from tax cuts."
Associated PressArticles (4)
FAQ
Approximately 10 million Americans are projected to lose health insurance coverage by 2034 as a result of the tax and spending law.
The nation's poorest citizens are expected to lose around $1,200 annually and millions will lose Medicaid coverage, including 7.5 million people and 5.3 million impacted by new work requirements. Additionally, 4.2 million are projected to lose coverage under the Affordable Care Act and marketplace plans.
The wealthiest Americans are projected to benefit from the tax law, receiving an average income increase of $13,600.
The tax law includes nearly $1 trillion in cuts to Medicaid and introduces new work requirements that primarily take effect starting in 2027, which are expected to cause millions to lose coverage and shift costs to states.
The law reduces premium tax credits for the ACA marketplace leading to nearly 5 million adults facing higher premiums, many of whom may drop coverage, and ultimately contributes to 4.2 million projected losses in ACA and marketplace health plan coverage over the next decade.
History
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