How do you know when Sen. Chuck Schumer is spewing lies? Answer: When he opens his mouth. The New Yorker just can’t seem to help himself, especially if the topic is regarding anything related to President Trump or Republicans in general.
His latest tall tale came Tuesday when – armed with the new Congressional Budget Office numbers on the Republican bill to replace Obamacare – the Senate minority leader insisted that the plan will create losers across the board, with some notable exceptions.
“The only winners in this CBO report are health insurance executives and the wealthiest Americans, people who make over $250,000 a year,” he said. “They get a huge tax break. Everyone else gets a cold shoulder from the Republicans in Congress and from President [Donald] Trump.”
Ummm, wrong, Chuckie. According to Lifezette:
The report did not actually analyze the impact of the bill on the insurance company executives. But more substantively, it does forecast that certain groups of Americans would fare better under the plan, while others would be worse off.
There are indeed, some groups the CBO states would be winners:
- Taxpayers. The bill forecasts that the deficit would be cut by $337 billion over 10 years compared with the Affordable Care Act.
- People who buy insurance on the individual market but do not qualify for subsidies under the Obamacare. The report projects that by 2026, average insurance premiums would be roughly 10 percent lower than they would be under current law. That is a savings for people who earn too much to qualify for assistance under current law but still well below the $250,000 threshold that Schumer suggests separates the rich from everyone else.
- Young people with modest incomes. The CBO offers the example of a 21-year-old earning $25,500 a year, 175 percent of the federal poverty line. Under current law, that person qualifies for subsidies of $3,400 to buy insurance on government exchanges. He or she pays $1,700 for insurance after those subsidies. Under the proposed law, the premium would be lower. Even with less generous tax credits, that consumer would pay $1,450 a year.
- Young people with higher incomes. A 21-year-old earning $68,200 a year, 450 percent of the poverty line, does not currently qualify for government assistance. But he or she would get a $2,450 tax credit. The amount he or she would pay in premiums would be substantially different — $1,450 per year compared with the $5,100 premium under current law.
- Older people making higher incomes. At the $68,200 income level, a 40-year-old would pay $4,100 less, and a 64-year-old making that much would save $700.
The American Healthcare Act – dubbed by some as RyanCare – is far from what conservative Republicans want to see in a bill to replace Obamacare. It not only doesn’t repeal the onerous nightmare passed by the Democrats in 2010, but it increases subsidies and potentially allows illegal aliens access to taxpayer funded healthcare through Medicaid. The bill has been panned by about 70 House Republicans and is said to be “dead on arrival” in the Senate.
But that does not mean that Sen. Schumer should be spreading fake news about who will benefit and lose based on the CBO numbers, which are a prediction at best.