Hurting Lower-Income Americans First
Donald Trump began his Saturday morning by bragging that American health care company stocks “plunged†following his decision to end the Cost Sharing Reduction (CSR) payments that assist lower-income Americans, also noting that he was “very proud†of his latest executive order which will cost Americans their health care.
“Health Insurance stocks, which have gone through the roof during the ObamaCare years, plunged yesterday after I ended their Dems windfall!†the president tweeted.
Yesterday, CNBC reported that health insurers and hospital stocks—American companies—had indeed taken a plunge on Friday following Trump’s actions on health care.
As MSNBC’s Joy Reid wrote:
“Very proud of my Executive Order,†Donald Trump continued, “which will allow greatly expanded access and far lower costs for HealthCare. Millions of people benefit!â€
This is, of course, categorically false.
The Congressional Budget Office has found that ending CSR payments that assist lower-income Americans with their deductibles, copays and health insurance, will cause one million Americans to lose coverage next year.
As NCRM has reported, the executive order Donald Trump signed will skyrocket insurance premiums and all but kill ObamaCare exchanges. Millions will certainly not benefit.
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