The Commonwealth Fund and George Washington University have released a new report warning of the economic impact of the proposed federal cuts to Medicaid and the Supplemental Nutrition Assistance Program (SNAP).
Key Impacts from Proposed Medicaid and SNAP Cuts:
– $1.1 trillion in economic losses over the next 10 years.
– State gross domestic products (GDPs) would be $113 billion lower.
– State and local governments would lose $8.8 billion in state and local tax revenues.
– Not extending the enhanced health insurance premium tax credits scheduled to expire after December 2025 would lead to a total of more than 1.3 million jobs lost in the United States.
Read the full report here.
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