House Ways and Means Committee To Cut Obamacare Subsidies To Pay For Ryan Budget

The House Ways and Means Committee has announced plans to mark up legislation that would reduce the deficit by $53 billion between 2013 and 2022, following instructions in the GOP’s budget. Republicans are hoping to cut the Affordable Care Act’s subsidies by $43.9 billion over the next decade, making coverage less affordable for many middle class Americans. The provision would require people to “pay back insurance subsidies if the government determined they received too much based on their income threshold.” Other provisions would repeal social services block grants to states and require Social Security to claim child tax credit, amounting to an estimated savings of $7.6 billion.– Fatima Najiy