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‘Significant impacts’ to Americans insured on Medicaid: Business correspondent on Trump's bill
MSNBC·2025-06-11 21:30

Fiscal Policy & Economic Impact - Proposed spending cuts target SNAP and Medicaid, totaling approximately $560 billion over a decade [2] - Congressional Budget Office estimates 10.9 million fewer insured Americans due to these cuts, potentially impacting hospitals and healthcare systems [3] - Tax cuts favor the wealthy, while spending cuts disproportionately affect the poor [5] - Concerns raised about the impact on rural communities and vulnerable populations, including children reliant on Medicaid [7][8] - The bill may lead to privatization of government services and increased financial burden on states through block grants [9] Trade & Tariffs - China will impose a six-month limit on rare earth export licenses for US manufacturers [11] - US manufacturers rely on Chinese rare earth minerals for battery and auto production, creating a leverage point for China [13] - May inflation report was less than expected due to pre-tariff purchases and companies absorbing some tariff costs [16][17] - Economists anticipate that a 55% tariff against China will eventually lead to higher prices for consumers [17][18] Labor Market & Immigration - May jobs report showed a drop in the labor force, potentially reflecting fewer immigrants entering the workforce [19] - Concerns that immigration crackdown could limit job and economic growth [20] Consumer Impact - Consumers are starting to feel the impact of rising prices, particularly in rural communities with limited buying options [21][22][23]