to cause the kind of damage that the cbo, the congressional budget office just said it would. and that is devastating to health care in america. i would point out that, you know, one of the things that all of us have focussed on, including donald trump, was saying we got to get a handle on the opioid epidemic. and yet, they removed requirement in medicaid that those funds be used for substance abuse. while they re cutting medicaid by $880 billion. so, if you look at the big picture here, it s a huge cut. to medicaid and affordable care. paid for by this gigantic tax break to million you ve heard the numbers. you re in the top one tenth of 1%, $200,000 tax break. millionaires, $50 million. ceos of companies they get to write off the big bonuses they pay. so, i really do think it s grotesque, and i could understand, steve, why they tried to push this through and did push it through two
bring them to win over the more conservative members of the house to back the proposed health care bill. a lot of what has been getting lost in this debate, what does this bill do? how does that change existing obamacare law and what exactly does the more conservative wing want? we go to trace gallagher, and the west coast newsroom, who boils it down. of the five biggest takeaways from the g.o.p. health care plan, one of the most controversial appears to be the cuts to medicaid. for context, prior to the affordable care act, medicaid was intended for low income families, pregnant women, children, the disabled, and the elderly. since the affordable care act went into effect, an initial 11 million people enrolled in medicaid. the g.o.p. plan would not affect those people at all or anyone else who enrolls prior to 2020. but after 20/20 , medicaid expansion would be cut back, saving the federal government an estimated $880 billion by
decade. the ranks of the uninsured will grow by 14 million over the next year. the threeactors are how the bill rescinds the penalty on the uninsured, leading to more to opt out of the market, using tax credits less generous than current subsidies making purchasing health care less affordable. some states undoing their medicaid expansion because of new restrictions on spending, decreasing coverage for low income individuals. now over the next ten-year period and under the current plan, medicaid will undergo an $880 billion spending decrease, with 14 million fewer medicaid enrollees. that s a 17% reduction from the number currently enrolled under obamacare. the percentage of u.s. residents under the age of 65 without health insurance is prktded to return to pre-ac a-levels. outside the white house left, health and human secretary tom price rejected the analysis. the cbo looked at a portion of our plan, but not the entire
over ten years, $337 billion, that s because it makes about $1.2 trillion in cuts, and then proceeds to spend, it says, $.9 trillion, according to to the cbo. and that spending comes in the form of cutting taxes as well as offering about $360 million in those tax credits. those are aimed at helping people buy insurance. but, what you re cutting is medicaid. $880 billion worth of cuts to medicaid. and you re cutting those subsidies that people who are toosh make too much money to qualify but don t make enough for insurance, they get $6673 billion over the course of ten years. that medicaid wiped out, those subsidies wiped out, replaced with again, about half as much money in tax credits. and then of course, the rest of the savings comes from excuse
we are blocked granting medicaid back to the states, saving $880 billion there. this is an $883 billion tax cut for families and small businesses that helps lower their health care costs and it saves money and reduces the deficits. that s really good on all those points. what the cbo is also telling us, by having state-based high-risk pools, tax credits, you can buy what you want in health savings accounts, they are telling us our reforms stabilize the market and lower premiums when the reforms take place. you juxtapose that against a collapsing obamacare system, double-digit premium increases this year, worse next year. very few plans offered. down to one plan in 1 out of 3 counties. zero plans in some places next year. we are witnessing the collapse of obamacare and what cbo is telling us is the replacement plan stabilizes the situation, brings down costs. this is stage one of a three stage process.