Ranking Member Martin Heinrich (D-NM) announced today the release of new analysis by the Joint Economic Committee Democrats outlining why the Republican healthcare plan’s emphasis on health savings accounts (HSAs) won’t help the 24 million Americans losing their health coverage if Republicans repeal the Affordable Care Act and replace it with the flawed American Health Care Act.
President Trump’s proposal irresponsibly robs $54 billion from vital job-creating programs Americans rely on every day. Across-the-board budget cuts to programs for education and job training, infrastructure investment, and science and technological research will make it harder to secure an economic future that works for all Americans.
I want to be clear about what the Federal Reserve’s decision to raise interest rates today does: it pulls the rug out from under job and wage growth. After decades of stagnation, American workers have only begun to see wages grow overall in the recent few years, though job and wage growth has yet to return to many parts of the country.
We can’t wait any longer to do something about America’s infrastructure problem. Crumbling roads, unsafe bridges, contaminated drinking water and insufficient access to broadband are hurting U.S. competitiveness and slowing economic growth. President Trump promised action, but he hasn’t even lifted a finger on infrastructure.
The Congressional Budget Office has confirmed that the Republican healthcare bill will be as disastrous as we expected. 14 million will be uninsured by next year, and 24 million by 2026. The Republican plan would mean a school teacher pays more for their health care so that a hedge fund manager can get a six figure tax break. That’s unconscionable. Having an economy that works for all means making sure Americans get the affordable health care they deserve.
Today’s jobs numbers make clear what we have known for some time: President Trump did not inherit a mess, in fact he inherited one of the longest expansions in American history. The challenge before us is how to put that success within the reach of every hardworking American. We need to continue broaden this recovery and leave no corner of our country behind.
A new report by the Democratic staff of the U.S. Congress Joint Economic Committee, produced at the request of Ranking Member-Designate Martin Heinrich (D-NM), outlines specific areas of the U.S. economic recovery under President Obama that are threatened by the stated policies and cabinet appointees.