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Trump nails Obamacare with decision to cut off billions in subsidies

“U.S. President Donald Trump moved to undermine Obamacare dramatically late on Thursday by cutting off subsidies to health insurance companies for low-income patients, sparking threats of legal action and concern of chaos in insurance markets” reports foxbusiness.com. Senate Democratic Leader Chuck Schumer and House Democratic Leader Nancy Pelosi derided the subsidies cut-off in a joint statement, saying Trump would single-handedly push Americans’ healthcare premiums higher.In a nod to that same constituency, the president signed an executive order earlier on Thursday to make it easier for Americans to buy bare-bones health insurance plans exempt from Obamacare requirements.
 
Source: foxbusiness.com



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