Latest news with #E&C
E&E News
4 days ago
- Business
- E&E News
House panel sets vote on energy, permitting bills
A House Energy and Commerce subcommittee will vote this week on legislation to address long-held Republican concerns around electric reliability. Lawmakers discussed the 13 bills during a hearing in April. They focus heavily on easing permitting for fossil fuel and nuclear infrastructure. 'Over the past several months, our Committee has heard from energy producers, grid operators, and experts on [artificial intelligence] that have discussed the need to produce more baseload power,' said E&C Chair Brett Guthrie (R-Ky.) and Energy Subcommittee Chair Bob Latta (R-Ohio) about the bills. '[These] specific policy proposals would help achieve this goal and ensure American energy dominance.' Advertisement Republicans believe baseload energy sources — unlike wind and solar — can better allow the U.S. to meet power demand. But Democrats expressed opposition to almost all the bills during April's hearing, wanting more attention for renewables.
Yahoo
13-03-2025
- Business
- Yahoo
President Trump says he'll ‘always protect' Social Security, Medicare benefits — as GOP mulls Medicaid reform
With the House narrowly passing a budget blueprint that calls for at least $1.5 trillion in spending cuts, fears are being fueled about potential cuts to popular programs like Social Security, Medicare and Medicaid. The Trump administration, for its part, has asserted it has no such plans. In late February, House Speaker Mike Johnson told CNN's Kaitlan Collins that the White House made a 'commitment' not to touch social programs. 'What we are going to do is go into those programs and carve out the fraud, waste and abuse, and find efficiencies,' he said. I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Home prices in America could fly through the roof in 2025 — here's the big reason why and how to take full advantage (with as little as $10) Americans with upside-down car loans owe more money than ever before — and drivers can't keep up. Here are 3 ways to cut your monthly costs ASAP And on March 11, the White House issued a press release, declaring 'President Trump will always protect Social Security [and] Medicare' and reaffirming he has no plans to cut Social Security, Medicare or Medicaid. However, analysts worry there won't be enough fat to trim from these programs to meet budget cut expectations — here's what you need to know. Medicaid is a joint federal and state program that provides acute, primary and long-term health care services to low-income Americans, including children, seniors and people with disabilities. The program supports more than 70 million people (that's one in five Americans) at a cost of $871.7 billion annually (as of 2023). Coverage varies by state, both in terms of eligibility and benefits. The budget blueprint doesn't specifically mention cuts to Medicaid. However, the House Energy and Commerce Committee (E&C), which has jurisdiction over the program, has been instructed to cut at least $880 billion from its budget. The committee also has jurisdiction over Medicare, though Republicans have ruled out cuts to that program. By taking Medicare off the table, Medicaid then accounts for 93% of funding under E&C, according to analysis sent to lawmakers by the nonpartisan Congressional Budget Office (CBO). Recent analysis done by health policy organization KFF backs the CBO's findings, adding that Medicaid accounts for $8.2 trillion out of the total $8.9 non-Medicare spending in the E&C jurisdiction. While fraud is an issue — both Medicare and Medicaid are susceptible to improper payments and potential mismanagement, according to the U.S. Government Accountability Office (GAO) — cutting out fraud won't cover such deep budget cuts. In fiscal year 2023, Medicaid Fraud Control Units (MFCUs) reportedly recovered $1.2 billion in Medicaid provider fraud and patient abuse or neglect, with 1,143 convictions. That's far from the $880 billion E&C has been instructed to cut. 'The math is conclusive: Major cuts to Medicaid are the only way to meet the House's budget resolution requirements. There are a myriad of options available for cutting Medicaid, but all of them would leave the states facing difficult choices to raise revenues or cut spending,' according to the KFF analysis. Read more: An alarming 97% of older Americans are carrying debt into retirement — here's why and 4 simple things you can do if you're stuck in the same situation Previous proposals have included imposing a per capita cap on federal funding for Medicaid or turning federal subsidies into block grants, which would shift costs to state governments. That, in turn, could increase costs at the state level and result in cuts to eligibility and benefits, according to research from the Center on Budget and Policy Priorities (CBPP). 'Many of those losing Medicaid coverage would be left unable to afford life-saving medications, treatment to manage chronic conditions like cardiovascular disease and liver disease, and care for acute illnesses,' according to CBPP. Johnson told CNN that per capita caps on federal funding are 'off the table.' Medicaid reductions would impact low-income and minority populations, which could lead to increased financial hardship and health inequities. Data shows that Americans with the highest reliance on Medicaid tend to live in Republican-leaning states. The latest KFF health tracking poll finds that most Americans think funding for Medicaid should either increase (42%) or stay the same (40%), while fewer than 17% want to see Medicaid funding decrease. While about half (53%) say they or a family member has received help from Medicaid at some point, nearly all (97%) say Medicaid is at least somewhat important for those in their local community. But cuts would likely be felt even by those who have never accessed Medicaid supports. 'The impact of national cuts to Medicaid funding would be felt in our economy, our states' budgets, and our communities. Medicaid is the largest source of federal funding to states and is critical for keeping hospitals and clinics afloat,' according to Partners in Health (PIH). The impact of cuts to Medicaid on low-income Americans — particularly those in Republic-leaning states — could potentially affect the political landscape in the lead-up to the next election. And that might help explain why politicians like Johnson are treading carefully around how they frame Medicaid reform. Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Protect your retirement savings with these 5 essential money moves — most of which you can complete in just minutes This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
