Obama Warns 16M Americans Could Lose Coverage Under Trump Bill

Benzinga

Former President Barack Obama warned on Wednesday that over 16 million Americans risk losing health coverage, according to a statement on social media. House Republicans are pushing to pass Trump’s sweeping tax and spending plan, which includes deep cuts to Medicaid and food assistance. Trump's "Big Beautiful Bill" would slash $1 trillion from Medicaid. Trump’s “Big Beautiful Bill” proposes a $1 trillion Medicaid cut over 10 years and expands work requirements for able-bodied adults ages 19–64, including parents of children 14 and older. The CBO estimates 12 million more Americans would become uninsured due to the Medicaid provisions alone. Trump criticized GOP holdouts online and warned of political fallout after setting a July 4 deadline for the bill’s passage. House Speaker Mike Johnson worked overnight to secure votes amid Republican resistance.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Former President Barack Obama warned on Wednesday that over 16 million Americans risk losing health coverage, according to a statement on social media.

00:09House Republicans are pushing to pass Trump's sweeping tax and spending plan, which includes deep cuts to Medicaid and food assistance.

00:15Trump's Big Beautiful Bill would slash $1 trillion for Medicaid.

00:19Trump's Big Beautiful Bill proposes a $1 trillion Medicaid cut over 10 years and expands work requirements for able-bodied adults age 19 to 64, including parents of children 14 and older.

00:29The CBO estimates 12 million more Americans will become uninsured due to the Medicaid provisions alone.

00:35Trump criticized GOP holdouts online and warned of political fog after setting a July 4th deadline for the bill's passage.

00:42House Speaker Mike Johnson worked overnight to scare votes amid Republican resistance.

00:46For all things money, visit Benzinga.com.

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