President Trump signed a federal budget that includes cuts of $1 trillion from Medicaid and $500 billion from Medicare over the next decade. Advocacy groups rallied against these cuts outside U.S. Rep. Nicole Malliotakis's office. The Greater New York Hospital Association projected that the cuts would jeopardize $14.4 billion in economic activity and lead to the loss of over 63,000 healthcare jobs. Many hospitals are already financially distressed, and the proposed cuts could result in service reductions and closures. Estimates indicate that millions may lose Medicaid access due to these changes.
An analysis by the Greater New York Hospital Association estimates that Trump's megabill will risk $14.4 billion in hospital-generated economic activity and over 63,000 healthcare or healthcare-related jobs. The cuts will exacerbate the stress on the already fragile healthcare system, leading to a reduction in critically needed services, downsizing of operations, or even hospital closures.
According to the nonpartisan Congressional Budget Office, nearly 12 million Americans are expected to lose Medicaid coverage over the next decade. However, the Senate Joint Economic Committee Minority estimates that as many as 20 million Americans could lose access to Medicaid.
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