Trumpcare Takes Health Care From The Poor And Old, Gives Tax Breaks To The Rich
Congress continues to move forward with its bill to repeal health care for millions of Ohioans. That bill, formally called the American Health Care Act but popularly referred to as Trumpcare, is awaiting a vote in the House of Representatives. The Congressional Budget Office (CBO) released its analysis of Trumpcare on Monday, March 13th, and they show that millions of people would lose coverage.
According to CBO analysis, 14 million people would lose their health care coverage in 2018, increasing to 24 million in 2026, to finance tax cuts for the wealthiest Americans. In Ohio people are at risk of losing their Medicaid coverage (especially those in the expanded Medicaid population), the ability to afford coverage as individuals, small business coverage, and employer coverage.
Cuts to the funding Ohio receives to care for low income older adults, children, those with disabilities, and the working poor would place a large burden on the state. An analysis released by the Center for Community Solutions showed that the cuts under Trumpcare would cost Ohio between $19 billion and $26 billion in funding between 2019 and 2025. Loss of the health care funding to the Medicaid program would hurt the health of over 700,000 Ohio residents and impair our ability to fight the opioid epidemic.
Trumpcare would cut premium tax credits for working Americans by an average of nearly $1,700, reducing support for rural, older, and low-income Americans. The bill also would repeal income-based cost sharing reductions, the small business tax credit, and the shared responsibility provisions.
Trumpcare would repeal around $575 billion in taxes on high-income individuals, according to figures from the Committee for a Responsible Federal Budget. The bill would reinstate a tax break for insurance company CEO pay above $500,000; eliminate taxes on health insurance companies, drug corporations, and the medical device industry; and delay the insurance company “Cadillac tax.”
Call Senator Portman (202-224-3353) and your member of Congress and tell them not to vote for this bill that will cause millions of Americans to lose or pay more for coverage.
