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Globe and Mail
7 hours ago
- Globe and Mail
Health care cuts stall progress on Trump's budget bill
WASHINGTON (AP) — One key unsettled issue stalling progress on President Donald Trump's big bill in Congress is particularly daunting: How to cut billions from health care without harming Americans or the hospitals and others that provide care? Republicans are struggling to devise a solution to the health care problem their package has created. Already, estimates say 10.9 million more people would be without health coverage under the House-passed version of the bill. GOP senators have proposed steeper reductions, which some say go too far. 'The Senate cuts in Medicaid are far deeper than the House cuts, and I think that's problematic,' said GOP Sen. Susan Collins of Maine. Senators have been meeting behind closed doors and with Trump administration officials as they rush to finish up the big bill ahead of the president's Fourth of July deadline. Much of the package, with its tax breaks and bolstered border security spending, is essentially drafted. But the size and scope of healthcare cuts are among the toughest remaining issues. It's reminiscent of the summer during Trump's first term, in 2017, when Republicans struggled to keep their campaign promise to 'repeal and replace' the Affordable Care Act, or Obamacare, only to see the GOP splinter over the prospect of Americans losing health coverage. That legislation collapsed when then-Sen. John McCain famously cast a thumbs-down vote. Senate Majority Leader John Thune is determined to avoid that outcome, sticking to the schedule and pressing ahead with voting expected by the end of the week. 'This is a good bill and it's going to be great for our country,' Thune said Wednesday, championing its potential to unleash economic growth and put money in people's pockets. The changes to the federal health care programs, particularly Medicaid, were always expected to become a centerpiece of the GOP package, a way to offset the costs of providing tax breaks for millions of Americans. Without action from Congress, taxes would go up next year when current tax law expires. The House-passed bill achieved some $1.5 trillion in savings overall, a large part of it coming from changes to health care. The Medicaid program has dramatically expanded in the 15 years since Obamacare became law and now serves some 80 million Americans. Republicans say that's far too high, and they want to shrink the program back to a smaller size covering mainly poorer women and children. House Democratic Leader Hakeem Jeffries said Republicans are 'trying to take away healthcare from tens of millions of Americans.' Democrats are uniformly opposed to what they call the 'big, ugly bill.' Much of the health care cost savings would come from new 80-hour-a-month work requirements on those who receive Medicaid benefits, even as most recipients already work. But another provision, the so-called provider tax that almost all the states impose to some degree on hospitals and others that serve Medicaid patients, is drawing particular concern for potential cuts to rural hospitals. Sen. Josh Hawley, R-Mo., said several senators spoke up Wednesday during a private meeting indicating they were not yet ready to start voting. 'That'll depend if we land the plane on rural hospitals,' he said. States impose the taxes as a way to help fund Medicaid, largely by boosting the reimbursements they receive from the federal government. Critics decry the system as a type of 'laundering' but almost every state except Alaska uses it to help provide the health care coverage. The House-passed bill would freeze the provider taxes at current levels, while the Senate proposal goes deeper by reducing the tax that some states are able to impose. 'I know the states are addicted to it,' said Sen. Roger Marshall, R-Kan. But he added, 'Obviously the provider tax needs to go away.' But a number of GOP senators, and the hospitals and other medical providers in their states, are raising steep concerns that the provider tax changes would decimate rural hospitals. In a plea to lawmakers, the American Hospital Association said the cuts won't just affect those who get health coverage through Medicaid, but would further strain emergency rooms 'as they become the family doctor to millions of newly uninsured people.' 'And worse, some hospitals, especially those in rural communities, may be forced to close altogether,' said Rick Pollack, president and CEO of the hospital group. The Catholic Health Association of the United States noted in its own letter that Medicaid provides health insurance coverage for one in five people and nearly half of all children. 'The proposed changes to Medicaid would have devastating consequences, particularly for those in small towns and rural communities, where Medicaid is often the primary source of health care coverage,' said Sister Mary Haddad, the group's president and CEO. Trying to engineer a fix to the problem, senators are considering creating a rural hospital fund to help offset the lost Medicaid money. GOP senators circulated a proposal to pour $15 billion to establish a new rural hospital fund. But several senators said that's too high, while others said it's insufficient. Collins has proposed that the fund be set at $100 billion. 'It won't be that big, but there will be a fund,' Thune said. Hawley, who has been among those most outspoken about the health care cuts, said he's interested in the rural hospital fund but needs to hear more about how it would work. He has also raised concerns about a new $35 per service co-pay that could be charged to those with Medicaid, which is in both the House and Senate versions of the bill. 'Getting the fund is good. That's important, a step forward,' Hawley said. But he asked: 'How does the fund actually distribute the money? Who will get it to hospitals? ... Or is this just going to be something that exists on paper?' A new analysis from the White House Council of Economic Advisers estimates the package would result in up to $2.3 trillion in deficit reduction over 10 years, a markedly different assessment from other analyses. In contrast, the nonpartisan Congressional Budget Office's dynamic analysis of the House-passed measure estimates an increase in deficits by $2.8 trillion over the next decade. __ Associated Press writers Kevin Freking, Mary Clare Jalonick, Joey Cappelletti and Fatima Hussein contributed to this story.
Globe and Mail
8 hours ago
- Globe and Mail
Why Nektar Therapeutics Stock Was Red-Hot Today
The latest biotech stock to explode in price, Nektar Therapeutics (NASDAQ: NKTR) was quite the outperformer on the stock exchange for the second day in a row. On Wednesday, one day after delivering excellent news from the lab, the company's shares leaped 19% higher on a significant analyst price target change. A clear buy, says analyst Well before market open, H.C. Wainwright's Arthur He poured some rocket fuel into his Nektar price target, setting it anew at $120 per share. That's far above his previous level, which was a mere $6.50. In making the change, he left his buy recommendation intact. In what's hardly a surprising development, He's adjustment was due to the positive results in the latest completed clinical trial for Nektar's eczema drug rezpegaldesleukin. The study put the medicine through its paces for the treatment of moderate-to-severe atopic dermatitis (AD), a form of eczema. In the analyst's view, it did well enough to become a top drug in the treatment of the affliction. On Tuesday, the biotech announced, no doubt with immense satisfaction, that rezpegaldesleukin met all of its primary and secondary endpoints in the phase 2b trial. After 16 weeks of treatment with the subcutaneous drug, patients demonstrated a 53% to 61% improvement in symptoms when measured with an eczema index. This compared very favorably to 31% for patients taking a placebo. Vast potential This easily makes Nektar's drug the success of the week in the biotech world. As pointed out by He, Rezpegaldesleukin clearly has potential to treat the many people who suffer from AD. As such, the progress of the drug -- and its developer -- will be exciting to watch going forward. Should you invest $1,000 in Nektar Therapeutics right now? Before you buy stock in Nektar Therapeutics, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Nektar Therapeutics wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $689,813!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $906,556!* Now, it's worth noting Stock Advisor 's total average return is809% — a market-crushing outperformance compared to175%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 23, 2025
Globe and Mail
10 hours ago
- Globe and Mail
Dental Services In Calabasas Now Offered at Oaks Dental
Residents of Calabasas and surrounding communities will soon have access to exceptional dental care as Oaks Dental announces its grand opening on July 7th, 2025. The state-of-the-art dental practice, led by distinguished dentists Dr. Kourosh Keihani and Dr. Tariq Jabaiti, is now accepting appointments, bringing comprehensive dental services to the Calabasas area. Located in the heart of Calabasas, Oaks Dental combines advanced dental technology with personalized patient care to deliver exceptional dental treatments. The practice offers a full range of services including cosmetic dentistry, restorative procedures, and preventive care, all designed to help patients achieve optimal oral health and beautiful smiles. The new Calabasas dental practice features modern facilities equipped with cutting-edge technology to ensure patients receive the highest standard of care. From digital imaging systems to laser dentistry tools, Oaks Dental has invested in advanced equipment that enhances diagnostic accuracy and treatment outcomes while maximizing patient comfort. Dr. Kourosh Keihani, a premier cosmetic and restorative dentist, brings his meticulous attention to detail and commitment to exceptional care to the Calabasas community. Known for combining advanced clinical expertise with refined artistry, Dr. Keihani creates natural, beautiful smiles through techniques including digital smile design, minimally invasive procedures, and full-mouth rehabilitation. "We are thrilled to bring our dental expertise to Calabasas and establish relationships with members of this wonderful community," said Dr. Tariq Jabaiti. "Our mission at Oaks Dental is to provide comprehensive dental care in a comfortable environment where patients feel valued and respected. We believe everyone deserves access to high-quality dental services that enhance both oral health and overall wellbeing." Comprehensive Dental Implant Solutions Oaks Dental recognizes the significant impact missing teeth can have on confidence, oral functionality, and quality of life. The practice offers advanced dental implant solutions designed to restore smiles, enhance chewing function, and prevent bone loss. Their dental implant procedures provide durable, natural-looking replacements for missing teeth, helping patients regain confidence in their smiles. Advanced Veneer Treatments The cosmetic dentistry team at Oaks Dental specializes in veneer treatments that transform smiles. These thin porcelain shells are custom-crafted to cover the front surface of teeth, addressing issues such as discoloration, chips, gaps, and minor misalignments. The practice employs precise techniques to ensure veneers blend seamlessly with natural teeth, creating radiant smiles that enhance facial aesthetics. Innovative Invisalign Services Oaks Dental provides Invisalign treatment. This modern orthodontic solution uses clear, removable aligners to gradually shift teeth into proper alignment. The Calabasas dental practice offers comprehensive consultations to determine candidacy for Invisalign and develops personalized treatment plans to achieve optimal results. Professional Teeth Whitening Procedures Oaks Dental delivers professional teeth whitening services that brighten smiles effectively and safely. Their whitening treatments are significantly more powerful than over-the-counter options, producing dramatic results while protecting tooth enamel and gum tissue. Patients can choose between in-office whitening for immediate results or take-home kits for gradual improvement. Emergency Dental Care Oaks Dental provides emergency dental services for unexpected issues such as severe toothaches, broken teeth, lost fillings, or damaged restorations. The practice maintains flexibility in their schedule to accommodate urgent cases, ensuring patients receive timely relief from pain and appropriate treatment to prevent further complications. Both Dr. Keihani and Dr. Jabaiti bring impressive credentials to the Calabasas dental community. Dr. Jabaiti earned his Doctor of Dental Surgery at the Herman Ostrow School of Dentistry at USC and currently holds a faculty professor position there. He maintains affiliations with prestigious organizations including the California Dental Association, American Dental Association, American Academy of Cosmetic Dentistry, and the Ventura County Dental Association. The grand opening celebration on July 7th will welcome community members to meet the dental team, and learn about the comprehensive services available. The practice is currently scheduling appointments for new patients seeking general dental care, cosmetic procedures, and specialized treatments. For more information please contact Dr. Tariq Jabaiti at About Oaks Dental Oaks Dental is a premier dental practice in Calabasas offering comprehensive dental services including veneers, dental implants, Invisalign, dental crowns, tooth extraction, emergency dental care, root canal treatment, and teeth whitening. Led by Dr. Kourosh Keihani and Dr. Tariq Jabaiti, the practice combines advanced technology with personalized care to deliver exceptional dental experiences. The team is committed to helping patients achieve healthy, beautiful smiles through preventive, restorative, and cosmetic dental solutions. Media Contact Company Name: Oaks Dental Contact Person: Dr. Tariq Jabaiti Email: Send Email Phone: (818) 431-2000 Address: 5000 Parkway Calabasas Suite 308 City: Calabasas State: CA Country: United States Website:
