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GOP Tax Bill Would Trigger Devastating Cut to Medicare

2017-12-13T17:38:29+00:00November 15th, 2017|Latest News, News Releases|

News Release

“In their rush to enact a reckless tax bill, Congressional Republicans have overlooked a provision in federal budgetary law that would have immediate and devastating consequences for Medicare.  Because the GOP tax plan blows a hole in the deficit, it would trigger automatic budget cuts under the little-known “PAYGO law” – including a $25 billion reduction in Medicare spending for the current fiscal year. Obviously, such a drastic cut would undermine the delivery of care to the 57 million seniors and disabled Americans who depend on the program. Left uncorrected, this would not only be a bald-faced admission that tax breaks for the wealthy and big corporations are more important than medical care for seniors, but also a betrayal of President Trump’s promise not to touch Medicare.  Fortunately, lawmakers have the power to waive this sequestration. In a letter to the House, I have urged them to oppose the GOP’s “Robin Hood in Reverse” tax plan in its entirety – or at least stop this massive and instant cut to Medicare while they have the chance. – Max Richtman, President & CEO of the National Committee to Preserve Social Security and Medicare

 

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