“The nonpartisan Congressional Budget Office (CBO) confirmed that under the Ryan health care plan Americans would be forced to pay more money for less coverage. At the same time the bill grants hundreds of billions in tax breaks to corporations and a $7 million annual tax break to the 400 wealthiest U.S. households.
“The CBO confirmed that 24 million people will lose coverage by 2026, with 14 million losing coverage next year. Additionally, millions will pay thousands of dollars more in out-of-pocket costs. Industry experts estimate that older heads of households could see their health care expenses go up by as much $10,000 per year.
“This is a bad bill for working Americans that takes us in the wrong direction.
“The Ryan health care bill steals from Medicare’s trust fund to pay for these outlandish tax cuts, threatening the health care of tens of millions of seniors who paid into Medicare and count on it. Every middle-class family that ever needs long-term care will be harmed if Medicaid funding is slashed. Medicaid pays the lion’s share of the cost for long-term care.
“To add insult to injury, the Republican bill taxes good health insurance plans. In 2025, wealthy Americans will get tax breaks and working men and women will bear the cost under this bad bill.
“No working family is spared by this mean-spirited bill as more people lose coverage and the cost of health care rises for everyone to pay for emergency, uncompensated care. The rising cost of uncompensated care will lead to higher health care inflation for all of us.
“I urge Republicans to abandon this bill and instead work to ensure that no American goes without health care coverage or is forced to choose between paying their medical bills or feeding their family.”