TLDR: No more money for Medicaid and crumbs for the individual market
The Hill has a report on what the Senate expects to unveil on Thursday as their new tax cut bill funded by Medicaid cuts:
senators said the Medicaid sections of the bill would remain largely unchanged from the initial draft, a blow to moderates who had pushed for easing cuts to Medicaid. That means a new cap on Medicaid spending will still drop after 2025, leading to deeper cuts opposed by moderates. And funds for ObamaCare’s expansion of Medicaid will still end in 2024.
Sen. John Barrasso (R-Wyo.), a member of leadership, said “what we had in the original bill has not changed with regard to Medicaid.”….
There’s going to be some money going to additional subsidies,” he said. “Someone making $12,000 a year getting a $6,000 deductible plan probably doesn’t work so well.”A “stability fund” that helps bring down premium costs is also expected to be increased, senators said.
They are talking about either delaying or removing two upper income tax cuts; investment income taxes may not be cut by 3.8% points nor the added on Medicare tax on very high incomes. This money might be redirected towards a little more cash to the individual market or mainly used to take away a Democratic talking point in attack ads that this bill is solely a tax cut bill paid for by the poor and the sick.
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