CBO Report Confirms Republican Repeal Bill Takes Away Health Care for 24 Million Americans
Washington, D.C. – Congresswoman Yvette D. Clarke, member of the Energy and Commerce committee, today released the following statement on the report released by the Congressional Budget Office (CBO) detailing the destruction caused by the House GOP repeal bill:
“The Congressional Budget Office Report confirms what we already knew: the Republican repeal bill is disaster for the American people and breaks the Republican promise of better care, lower premiums, and better consumer protections. The GOP’s healthcare plan covers less people and weakens protections. The American people will pay more for less.
“The Republican bill takes away high quality health insurance from millions of Americans while giving tax cuts to millionaire and billionaire CEOs. This repeal bill is a sham. Americans want real health care options, not false choices.”
Key Findings of the CBO Report
- 24 million Americans will lose their health coverage – including 14 million in 2018 alone;
- Under the GOP bill, 19 percent of the nonelderly population will be uninsured in 2026, compared to 10 percent in 2026 under current law.
- The bill would have the effect of slashing Medicaid by $880 billion over the next 10 years.
- Under the GOP bill, a 64-year-old with an income of $26,500 in the individual market will pay $12,900 more in their premiums each year.
- By defunding Planned Parenthood for one year, the bill would have the result of many women losing access to care, including contraceptives and other family planning services.
- The bill gives $600 billion in tax cuts to the wealthiest Americans and large corporations – including $2.8 billion to the 400 richest families in America alone.