Commonwealth Fund and GWU Release New Findings on House GOP Healthcare Bill Resulting in Loss of 1M Jobs in 10 Years
A new study from the Commonwealth Fund and George Washington University presented some unflattering potential effects from the enacting of the American Health Care Act.
According to the study from Leighton Ku, Erika Steinmetz, Erin Brantley, Nikhil Holla, and Brian K. Bruen, the US economy would see a short-term boost from the repeal of the Affordable Care Act's taxes. But the decrease of federal spending on healthcare under the GOP's American Health Care Act would cause harm in the long-run.
From the report:
"It initially raises the federal deficit when taxes are repealed, leading to 864,000 more jobs in 2018. In later years, reductions in support for health insurance cause negative economic effects. By 2026, 924,000 jobs would be lost, gross state products would be $93 billion lower, and business output would be $148 billion less. About three-quarters of jobs lost (725,000) would be in the health care sector." . . .