As president, every single budget Donald Trump submitted to Congress tried to cut federal spending for Medicaid and Social Security. Trump’s 2018, 2019, 2020, and 2021 budgets each proposed billions of dollars in cuts to Social Security programs. In both 2019 and 2020, Trump proposed budgets that included hundreds of billions of dollars in cuts to Medicare.
Luckily for the millions of Americans who rely on the social safety net, Democrats in Congress voted to preserve spending for both programs.
Project 2025, the presidential transition plan backed by many of Trump’s conservative allies and embraced by other Republicans, calls for the expansion of the privatized Medicare Advantage plan which would end the Medicare program entirely. It also calls for the repeal of the Inflation Reduction Act and its prescription drug price reforms that have helped so many Americans, especially seniors, save money and live healthier lives.
According to analysis by the Center for American Progress, more than 1.5 million Medicare Part D enrollees could see their 2025 out-of-pocket costs rise if the $2,000 out-of-pocket cap is repealed, and some seniors could see an average of nearly $400 in lost drug savings in 2025 alone. Overall, Medicare Part D enrollees across the nation could lose out on up to $7.4 billion in out-of-pocket savings next year should Trump get what he wants.
Published: Jun 27, 2024 | Last Modified: Jul 17, 2024