Is the new GOP healthcare bill worse than Obamacare? | The Tylt
Is the new GOP healthcare bill worse than Obamacare?
The Congressional Budget Office reported that repealing and replacing Obamacare would result in millions of Americans losing their insurance.
Democratic Sen. Chuck Schumer said:
"The CBO score shows just how empty the president's promises, that everyone will be covered and costs will go down, have been. This should be a looming stop sign for the Republicans' repeal effort."
But the new plan would cut spending by $1.2 trillion within the next decade and significantly reduce the deficit. Some Republicans touted the cost-cutting measures in the new bill as fiscally responsible, such as Rep. Kevin Brady (R-Tex.) chairman of the House Ways and Means Committee:
"Our legislation protects taxpayers, decreasing the ballooning deficit by more than $330 billion and curbing growing health-care costs.”
But critics say the GOP is making those spending cuts by taking healthcare away from the poor and the elderly:
The most significant provision, in dollar terms, of the Republican bill would reduce spending on Medicaid—the government's health insurance program for the poor—by $880 billion.
Critics say the bill is really a tax cut for the top one percent in the guise of a healthcare plan:
The AHCA does cut taxes on rich people, who are literally the only beneficiaries here. Every tax on the wealthy gets repealed, for a savings of about $7 million a year for the richest 400 households ($195,000 a year for the top 0.1 percent).