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Trump tax law could trigger about $500B in Medicare cuts over decade without fix: CBO
The Congressional Budget Office projects $536 billion in Medicare cuts by 2034 due to deficit-driven sequestration unless Congress enacts offsetting legislation.
- In its report on Friday, CBO warned that deficits from President Donald Trump's tax and spending law could trigger automatic Medicare cuts if Congress does not act.
- The Congressional Budget Office acknowledged the law would require sequestration under the Statutory Pay-As-You-Go Act of 2010, enforcing spending cuts if Congress does not act.
- Projections show growing cuts, with the Congressional Budget Office estimating Medicare could lose up to $45 billion in fiscal year 2026 and total cuts reaching $536 billion between 2026 and 2034.
- CBO forecasts 100,000 people will be newly ineligible for Medicare and 400,000 could become uninsured due to halted enrollment rules.
- Further, at least 10 million more will be uninsured by 2034, including 7.5 million from Medicaid policies and around 2.1 million from ACA marketplaces, with 5 million more losing coverage later this year.
90 Articles
90 Articles
Trump budget law will trigger over $500 billion in automatic Medicare cuts: CBO
A report released on Friday confirmed what many Democratic lawmakers have long been warning about: Republicans' massive budget law will trigger significant cuts to Medicare.The Congressional Budget Office (CBO) released its analysis of the GOP's budget package and acknowledged that it would be required to issue a sequestration, which is essentially a cancellation of budgetary resources.The sequestration is required under the rules set out by the…
President Donald Trump’s tax law could cause Medicare cuts if Congress doesn’t act, CBO says
WASHINGTON — The federal budget deficits caused by President Donald Trump’s tax and spending law could trigger automatic cuts to Medicare if Congress does not act, the nonpartisan Congressional Budget Office reported Friday. The CBO estimates that Medicare, the federal health insurance program for Americans over age 65, could potentially see as much as $491 billion from 2027 to 2034 if Congress does not act to mitigate a 2010 law that forces acr…
Associated Press News
Trump tax law could cause Medicare cuts if Congress doesn't act, CBO says
The federal budget deficits caused by President Donald Trump’s tax and spending law could trigger automatic cuts to Medicare if Congress does not act, according to the nonpartisan Congressional Budget Office.
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