The latest report released by the Congressional Budget Office (CBO) in the United States indicates that the tax subsidies extended under the Affordable Care Act (ACA), also known as Obamacare, will expire by the end of 2025. This could result in millions of people potentially losing their health insurance and facing increased premiums.
According to the report, “CBO estimates that if the subsidies are not permanently extended, the number of uninsured individuals will increase by 2.2 million by 2026, 3.7 million by 2027, and an average of 3.8 million per year between 2026 and 2034.”
President-elect Trump (Donald Trump) has criticized the healthcare law, stating that “Obamacare is too expensive and, besides, the quality of healthcare is not good.” He pledged to provide Americans with better and more affordable healthcare.
A report by The Hill suggests that with the Republicans set to take full control next year, it is unlikely that the extended tax subsidies will be renewed before the end of 2025. Previously, the CBO estimated that making the subsidies permanent would cost $335 billion over the next 10 years.