Report: Medicaid, SNAP cutbacks in ‘One Big Beautiful Bill’ would trigger big job losses
Abstract
- Issue: The budget reconciliation bill recently passed by the House of Representatives (the One Big Beautiful Bill) reduces federal funding for Medicaid by $863 billion and for the Supplemental Nutrition Assistance Program (SNAP) by $295 billion over 10 years.
- Goal: To estimate the impact of the bill on the economies, employment, and state and local tax revenues for every state and the District of Columbia in 2029, when the policies are fully implemented.
- Methods: We compute federal funding reductions for Medicaid and SNAP programs in each state using Congressional Budget Office estimates, along with recent Medicaid and SNAP data. We then use the IMPLAN modeling program to estimate economic effects.
- Key Findings and Conclusions: In 2029, cuts to Medicaid and SNAP would cause state gross domestic products to fall by $154 billion, 18 percent more than the $131 billion they would save the federal government. The cuts would result in the loss of 1.22 million jobs nationwide, equivalent to a 0.8-percentage-point increase in the unemployment rate. States with higher rates of poverty would likely be harmed more. State and local tax revenues would fall by $12 billion. Additional fallout from budget cuts to the health insurance marketplaces and the sequestration of Medicare funding will further harm the economy and employment.
The post Report: Medicaid, SNAP cutbacks in ‘One Big Beautiful Bill’ would trigger big job losses appeared first on Association of Health Care Journalists.
Information Courtesy By: Contributing writer, HealthcareNews, Global | Feeds
Abstract
- Issue: The budget reconciliation bill recently passed by the House of Representatives (the One Big Beautiful Bill) reduces federal funding for Medicaid by $863 billion and for the Supplemental Nutrition Assistance Program (SNAP) by $295 billion over 10 years.
- Goal: To estimate the impact of the bill on the economies, employment, and state and local tax revenues for every state and the District of Columbia in 2029, when the policies are fully implemented.
- Methods: We compute federal funding reductions for Medicaid and SNAP programs in each state using Congressional Budget Office estimates, along with recent Medicaid and SNAP data. We then use the IMPLAN modeling program to estimate economic effects.
- Key Findings and Conclusions: In 2029, cuts to Medicaid and SNAP would cause state gross domestic products to fall by $154 billion, 18 percent more than the $131 billion they would save the federal government. The cuts would result in the loss of 1.22 million jobs nationwide, equivalent to a 0.8-percentage-point increase in the unemployment rate. States with higher rates of poverty would likely be harmed more. State and local tax revenues would fall by $12 billion. Additional fallout from budget cuts to the health insurance marketplaces and the sequestration of Medicare funding will further harm the economy and employment.
The post Report: Medicaid, SNAP cutbacks in ‘One Big Beautiful Bill’ would trigger big job losses appeared first on Association of Health Care Journalists.
Click For More Details
2025-06-25 20:45
Except for the headline, this story has not been edited by Healthcare Central is published from a syndicated feed.