Kathmandu. Changes to President Donald Trump’s tax and spending laws are expected to leave an additional 10 million U.S. out of the insurance coverage over the next decade.
The Congressional Budget Office (CBO) has made this estimate. This is the first time since the law was enacted in July that such a non-partisan analysis has come from the CBO.
This is also an update of the CBO’s previous analysis. A previous analysis estimated that about 11 million Americans would be out of insurance under previous versions of the law.
The tax and spending legislation bill was passed only on the basis of republican votes. Because Democrats called the bill a gift to the rich at the expense of low-income Americans.
To extend the tax cuts passed during Trump’s first term and pay for some new temporary tax cuts and other expenses, the law imposes some restrictions and requirements on access to medicaid, health insurance programs for low-income people.
The CBO estimates that tax and benefit changes to the law will reduce the income of the poorest Americans by $1,200 a year. While the income of middle-income families will increase by $ 800 to $ 1,200. According to the CBO, the income of the richest American will increase by more than $ 13,000.
“Changes in resources will not be distributed evenly among families. The agency estimates that resources will generally decrease for households at the bottom of the income distribution,” the CBO report said, adding that resources will increase for households at the middle and top levels of income distribution. – Agency
