Passage of Tax Cut Bill Puts Millions of Older Adults at Risk

Passage of the Tax Cut bill puts the 57 million older adults and people with disabilities who rely on Medicare, and their families, at risk. Medicare faces both short, and longer-term, threats as a result of this Bill. Almost immediately, budget rules triggered by the tax bill will require automatic and ongoing cuts to Medicare, starting with $25 billion in 2018 alone. While Congress may prevent this from happening, such action won’t “fix” this catastrophically damaging bill. The massive tax giveaway will still result in a gaping revenue shortfall of $1.5 trillion or more, putting Medicaid, Medicare, and Social Security directly in the cross-hairs of policymakers seeking to pay for the tax cuts. Congressional leaders have been clear: After passing a costly tax bill that drives up deficits, they will use these higher deficits to justify cuts to programs like Medicare. Organizations concerned about access to affordable, quality health care and long-term services and supports for older people, people with disabilities, and their families have vowed to continue fighting for Medicare and the health and well-being of everyday Americans. “The Joint Committee on Taxation estimates that the bill’s tax breaks for the wealthy will slash federal revenue by over $1 [...]

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12/22/17 5:59 PM

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