Trump’s tax bill projected to leave 11M without insurance: CBO

The nonpartisan Congressional Budget Office on Wednesday projected that President Donald Trump’s “One Big Beautiful Bill Act,” which includes sweeping tax cuts and spending measures, will make nearly 11M Americans without health insurance.

The Republican budget bill narrowly cleared the House late last month by a single vote. The CBO released the report as the focus now turns to the Senate, where several Republican lawmakers have cited concerns about its potential to widen the U.S. budget deficit and introduce changes to Medicaid, a health insurance program jointly funded by the states and the U.S. government.

According to the report, nearly 7.8M Americans would lose their Medicaid coverage, while 1.4M people, including immigrants who can’t prove their legal status in the U.S., will also be deprived of health insurance due to the legislation. Much of the other coverage losses will come from the bill’s proposed changes to the Affordable Care Act’s exchanges.

Health insurers: UnitedHealth (NYSE:UNH), Humana (HUM), CVS Health (CVS), Cigna (CI), Clover Health (CLOV), Alignment Healthcare (ALHC), Centene (NYSE:CNC), Molina Healthcare (NYSE:MOH), Elevance Health (NYSE:ELV),

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