Senator Hassan Slams GOP’s $490 Billion Medicare Cut in Tax Bill

WASHINGTON – U.S. Senator Maggie Hassan (D-NH), Ranking Member of the Senate Finance Subcommittee on Health, responded to a new analysis from the non-partisan Congressional Budget Office finding that the plan put forward by President Trump and Congressional Republicans to give corporate special interests and billionaires a tax break increases the deficit by $2.3 trillion, which will trigger a $490 billion automatic cut to Medicare over the next 10 years.

“Seniors pay into Medicare their entire life, based on the promise that it will provide them with health care when they retire. It is absolutely ridiculous that Republicans want to take hundreds of billions of dollars away from Medicare in order to provide more tax giveaways to corporate special interests and billionaires,” said Senator Hassan, Ranking Member of the Senate Finance Subcommittee on Health. “At a time when we should be working to make health care more affordable, Congressional Republicans instead continue to push ahead with this partisan tax giveaway paid for by exploding the deficit and cutting Medicare, Medicaid, and Affordable Care Act, which will only increase health care costs for millions of Americans across the country.” 

The non-partisan Congressional Budget Office analysis finds that because the Congressional Republican plan increases the deficit by $2.3 trillion, it will trigger automatic cuts of $490 billion to Medicare. More than 60 million American seniors are enrolled in Medicare. An additional recent non-partisan analysis of the Republican tax plan finds that the legislation will also result in 13.7 million Americans losing their health insurance by 2034 because of proposed cuts to Medicaid and the Affordable Care Act.  

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