Senate Minority Leader Chuck Schumer vowed to fight the GOP replacement to Obamacare “tooth and nail,” arguing that the bill is “reckless” and would cause millions to lose their insurance and blow a “gigantic hole” in the federal budget.
“Both from the right side and the left side, people are taking shots at this because it would cause millions to lose insurance and blow a gigantic hole in the federal budget,” the New York Democrat told reporters Tuesday afternoon. “Simply put, Trumpcare is a mess for the American people. We Democrats will fight it tooth and nail.”
Schumer said the bill translates to “higher costs for less healthcare – plain and simple.”
The tax credits are less generous than under Obamacare, he said, and insurance companies can provide less coverage. The measure, he said, provides greater tax cuts for the “very wealthy,” while premiums are going to go up on those who can least afford insurance.
“This is a tax credit for the wealthy with some health insurance provisions tacked in,” Schumer said.
The measure’s cuts to the Medicare Trust Fund will drain the fund of its money by 2025, he argued.
“That’s not a very long time away for an elderly person in a nursing home or the kids who need to help support them,” he said.
