UPDATE: Trump to cut off key Obamacare subsidies: report
President Donald Trump intends to cut off key payments to health insurers, Politico reported (http://www.politico.com/story/2017/10/12/trump-obamacare-subsidy-243736) Thursday night, in his most aggressive move yet to scrap Obamacare. Politico said the $7 billion in annual subsidies could end almost immediately, since Congress has not allocated any funds for the program. For months, Trump has threatened to cut off the payments, but many Republican lawmakers opposed the move because of the turmoil it could cause to insurance markets, including increased premiums. Politico said Trump may announce the cuts Friday. Late Thursday night, the attorneys general of New York and California said that a coalition of states would sue to preserve the subsidies if Trump moves against them. Earlier Thursday, Trump signed an executive order (http://www.marketwatch.com/story/trump-order-encourages-cheap-insurance-plans-not-subject-to-obamacare-rules-2017-10-12) encouraging cheap insurance plans not subject to Affordable Care Act rules.
-Mike Murphy; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
October 12, 2017 23:19 ET (03:19 GMT)
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