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Thank you for reading this post, don't forget to subscribe!Topics we are addressing
• Economic claims: Officials in the US administration contend that the economic policies of President Donald Trump are starting to show effects, even amidst significant voter dissatisfaction regarding living expenses. Trump affirmed his economic record during a nationwide speech last night, claiming it is a triumph.
• Inflation report: The government is also highlighting a new inflation data release, indicating that inflation has decreased to 2.7%. Nevertheless, economists warn that the significantly lower reading might be due to distortions related to shutdowns.
• Marijuana order: Sources indicate that Trump is anticipated to sign an executive order today that will reclassify marijuana, a step that would relax federal restrictions.
• Epstein files: The Justice Department must release a large collection of investigative documents concerning Jeffrey Epstein by tomorrow.
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Improved Obamacare subsidies are scheduled to end at the close of the month. Here’s the current situation.
From CNN’s Sarah Ferris, Tami Luhby, Ellis Kim, and Maureen Chowdhury.
The improved premium subsidies of the Affordable Care Act are anticipated to expire at the end of the year, causing premiums to rise dramatically for millions of Americans in the new year.
Though the House is anticipated to vote in January on a Democratic plan to prolong them for three years, the initiative encounters considerable challenges in the Senate.
In the meantime, House Republicans passed a slim package yesterday by a vote of 216-211. The strategy aims to reduce health care expenses for certain Americans in the next few years but overlooks the ending enhanced Obamacare subsidies.
The proposal will be forwarded to the Senate, where a vote is unlikely to take place before lawmakers depart Washington for the holiday break.
Here’s what to understand regarding the conflict over health care subsidies:
GOP approves limited health care proposal: Speaker Mike Johnson and his associates took a strong approach in advocating for their health care proposal, which would enable small businesses and self-employed individuals to unite across various sectors to purchase coverage via association health plans to reduce premiums. It would additionally allocate federal funding for the cost-sharing subsidies that lower-income Obamacare participants receive to decrease their deductibles and out-of-pocket expenses for care.
A group of centrist Republicans breaks away: A faction of House GOP centrists, headed by Reps. Brian Fitzpatrick and Mike Lawler, executed a bold maneuver against Johnson—agreeing to support Democrats in effectively taking control of the Republican agenda by compelling a vote on their own legislation regarding the impending Obamacare subsidies crisis.
At the same time, health care expenses are projected to rise dramatically for millions: If the boosted subsidies expire, participants will experience an average increase of 114% in their yearly premium payments — around $1,000 — in 2026, as per KFF, a nonpartisan health policy research organization. The Congressional Budget Office estimates that approximately 2 million additional individuals will likely be uninsured next year if the subsidies are discontinued
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