Latest news with #ACA
The Hill
4 hours ago
- Health
- The Hill
Trump's megabill hits more trouble as Senate conservatives demand changes
The Senate version of legislation to enact President Trump's agenda is hitting new turbulence as conservatives led by Sens. Ron Johnson (R-Wis.), Rick Scott (R-Fla.) and Mike Lee (R-Utah) are demanding deeper spending cuts to address the nation's $2.2 trillion annual deficit. Senate Majority Leader John Thune (R-S.D.) has focused this week on addressing the concerns of Senate GOP colleagues such as Sens. Josh Hawley (Mo.) and Lisa Murkowski (Alaska), who raised alarms about cuts to federal Medicaid spending. But Thune has to worry about his right flank as Johnson and his allies are threatening to hold up the bill unless GOP leaders agree to deeper cuts to federal Medicaid spending and a faster rollback of the renewable energy tax credits enacted under former President Biden. Johnson, Lee and Scott are threatening to vote as a bloc against the bill next week unless it undergoes significant changes. Thune plans to bring the bill to the floor Wednesday or Thursday next week, but he may not have enough votes to proceed on the legislation, say Republican senators. 'There's no way I vote for this thing next week,' Johnson told reporters. 'I don't want to go the Nancy Pelosi route, 'You got to pass this bill to know what's in it,'' he added, referring to the Democratic Speaker emerita who represents California. Johnson noted that senators are taking a closer look at a proposal offered by Scott to significantly reduce the Federal Medical Assistance Percentage (FMAP), or the federal government's share of Medicaid spending, in states that expanded the program under former President Obama's Affordable Care Act (ACA). Lee is pushing for a fuller phaseout of the renewable energy subsidies enacted by Democrats in the Inflation Reduction Act (IRA). 'Mike is handling the IRA provisions of this, Rick Scott is handling the Medicaid. You need to satisfy those two, too. All three of us have to be yes or none of us are yes,' Johnson said. Scott, who founded the Columbia Hospital Corp. and went on to run Columbia/HCA Healthcare Corp., one of the world's largest health care companies, wants to dramatically cut the 90 percent federal match for states that expanded Medicaid under the ACA. 'The focus should be on how do we take care of what Medicaid's original purpose was? It's children and the chronically ill,' he said. Scott argues that able-bodied low-income adults are drawing far too much of Medicaid spending in states that expanded the program, such as California and New York. 'Half the people, half the adults that are on Medicaid under the expanded FMAP are not working,' he said, adding that these people are not disabled. 'We're running $2 trillion deficits.' Scott says Medicaid shouldn't pay out more than Medicare and that states should not be eligible for expanded federal Medicaid payments for new enrollees after two years. He also wants to further crack down on states' use of health care provider taxes to increase their share of federal Medicaid spending. That sets up a fight next week with Senate Republican colleagues who have balked at the cuts to Medicaid spending unveiled Monday by Senate Finance Committee Chair Mike Crapo (R-Idaho). The current Senate bill would reduce the maximum permitted provider tax rate from 6 percent to 3.5 percent by 2031. The Florida senator said colleagues such as Hawley and Sen. Susan Collins (R-Maine), who are worried about limiting health care provider taxes, have a 'legitimate concern' about the fate of rural hospitals. But he argued that the high rate of Medicaid spending won't solve their problems. Collins has proposed a 'provider-relief fund' to the bill to help offset Medicaid cuts for rural hospitals, nursing homes and community health centers. Lee, the Utah Republican, meanwhile is calling for a more rapid and complete phaseout of renewable energy subsidies in the bill and for tougher language to keep tax benefits from going to immigrants who entered the country illegally. 'Green New Deal subsidies that don't terminate by 2028 will effectively become permanent. If you don't want them to be permanent, tell your senators!' Lee posted on social platform X. Language released Monday by the Senate Finance Committee would extend tax credits for hydropower, nuclear and geothermal energy into the 2030s. A faster and broader phaseout of clean energy subsidies would be opposed by Republican senators such as Murkowski, Jerry Moran (Kan.), John Curtis (Utah) and Thom Tillis (N.C.), who warn that a sudden termination of federal support would disrupt the renewable fuel industry, cost jobs and strand billions of dollars in investment. Yet Senate conservatives are ready for a showdown, arguing the deficit poses a major threat to the U.S. economy. 'The deficit will eat us alive if we don't get it under control. If not us, who? If not now, when?' Lee posted Thursday on X. Johnson said Trump promised to balance the budget but argued 'the bill before us does not do it' and will instead worsen deficits over the next decade. He said while the spending cuts in the legislation are 'the most spending reduction we've had ever,' the 'spending increase is unprecedented, 10 times more.' 'Look at the numbers,' he said. The Congressional Budget Office unveiled a new projection that the House-passed bill to enact Trump's agenda would add $3.4 trillion to the debt.
Yahoo
a day ago
- Business
- Yahoo
Wall Street Analysts Believe Arcosa (ACA) Could Rally 25.52%: Here's is How to Trade
Arcosa (ACA) closed the last trading session at $87.00, gaining 2.1% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $109.2 indicates a 25.5% upside potential. The average comprises five short-term price targets ranging from a low of $100.00 to a high of $120.00, with a standard deviation of $7.29. While the lowest estimate indicates an increase of 14.9% from the current price level, the most optimistic estimate points to a 37.9% upside. More than the range, one should note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts. While the consensus price target is highly sought after by investors, the ability and unbiasedness of analysts in setting price targets have long been questionable. And investors making investment decisions solely based on this tool would arguably do themselves a disservice. But, for ACA, an impressive average price target is not the only indicator of a potential upside. Strong agreement among analysts about the company's ability to report better earnings than they predicted earlier strengthens this view. While a positive trend in earnings estimate revisions doesn't gauge how much a stock could gain, it has proven to be powerful in predicting an upside. According to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading. While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why? They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts. However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces. That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism. Analysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock. That's because empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. For the current year, one estimate has moved higher over the last 30 days compared to no negative revision. As a result, the Zacks Consensus Estimate has increased 1.1%. Moreover, ACA currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> . Therefore, while the consensus price target may not be a reliable indicator of how much ACA could gain, the direction of price movement it implies does appear to be a good guide. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Arcosa, Inc. (ACA) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
New York Post
2 days ago
- Health
- New York Post
How Trump's ‘big, beautiful' bill targets transgender medical procedures nationally
The Supreme Court on Wednesday upheld Tennessee's ban on transgender medical procedures for minors — a controversial practice that could be outlawed nationally if President Trump's 'big, beautiful' bill clears the Senate intact. The House-passed One Big Beautiful Bill Act includes a provision barring the use of taxpayer money to fund so-called 'gender-affirming care,' for both children and adults. The provision, championed by Rep. Dan Crenshaw (R-Texas), would ban Medicaid, Children's Health Insurance Program (CHIPs) and Affordable Care Act (ACA) funds from being spent on puberty blockers, cross-sex hormones and irreversible surgeries, such as double masectomies and genital reconstruction. The so-called 'Crenshaw Amendment' — a last-minute addition to the massive piece of legislation — specifically amends the Social Security Act, halting federal payments for what the provision deems as medically unnecessary procedures. 3 Crenshaw's provision will save taxpayers $2.5 billions over the next 10 years, according to his office. REUTERS The provision will have to survive the Senate's strict rules governing the reconciliation process, specifically the Byrd Rule, to make it into the upper chamber's version of the legislation. The Byrd Rule prevents the inclusion of measures deemed 'extraneous' to the budget process. For instance, provisions that don't directly affect spending or revenue. The Byrd Rule is interpreted and enforced by the Senate parliamentarian. Crenshaw's office notes that taxpayers will save 'about $2.5 billion over 10 years' if the provision becomes law. 'That's the estimated savings from blocking federal funding — via Medicaid, CHIP, and ACA — for gender transition procedures,' the congressman's office states. 'With transition costs running up to $75,000 per patient, the numbers add up fast. This amendment cuts it off—saving money and saving lives.' Last month, Crenshaw vowed that his provision 'will become law,' arguing that it is 'long overdue.' 'Gender transition procedures are the lobotomy of our generation,' he said in a statement. 'So-called 'gender-affirming care' isn't healthcare — it's fringe science with no proven benefit and massive risks.' 3 The transgender surgery ban would codify and expand on President Trump's executive actions preventing federal agencies from using tax dollars to promote or fund gender transitions. AP 3 The Supreme Court upheld Tennessee's transgender surgery ban on Wednesday in a 6-3 ruling. REUTERS In a 6-3 decision, the Supreme Court found that Tennessee's ban on transgender puberty blockers and hormone therapy treatments for minors does not violate the 14th Amendment's Equal Protection Clause. More than half of US states have similar laws on the books. 'Today was not just a win for basic biology and common sense, but for human decency, sound medicine, and the dignity and safety of children everywhere,' Sen. Roger Marshall (R-Kan.) said of the high court's ruling. 'As a doctor for over 25 years, I understand the gravity of these harmful so-called treatments radical activists have been pushing on children. They leave permanent scarring, sterilization, and other horrible side effects,' he added. 'Make no mistake, there's more work to do, and I remain committed to eliminating taxpayer-funded transgender procedures on both minors and adults.' Marshall's No Subsidies for Gender Transition Procedures Act is the Senate's companion legislation to Crenshaw's measure in the House.
Axios
2 days ago
- Health
- Axios
Texas tops U.S. in uninsured rate
Texas' uninsured rate has dropped significantly over the past decade — but it's still the highest in the country. The latest: A new report from the Commonwealth Fund shows that 21.6% of working-age Texans lacked health coverage in 2023, down from 29.8% in 2013. It shows about 1 in 5 adults are still uninsured. The big picture: States that expanded Medicaid under the Affordable Care Act (ACA) saw the steepest drops. Texas is one of 10 states that still hasn't expanded Medicaid, leaving many low-income adults in a "coverage gap" where they fail to qualify for either ACA plans or Medicaid. Nearly 4 million Texans signed up for health plans through the federal ACA marketplace this year, underscoring the demand for affordable coverage. By the numbers: Nationally, the uninsured rate for adults aged 19–64 fell from 20.4% in 2013 to 11% in 2023. Between the lines: Texas also has a large undocumented population, which further contributes to its uninsured rate, since undocumented immigrants aren't eligible for ACA benefits.
Axios
2 days ago
- Health
- Axios
Where uninsured rates have fallen the most since 2013
Uninsured rates hit record lows in all U.S. states by 2023, driven by coverage expansions under the Affordable Care Act and related policy changes, per a new report. Why it matters: Although a greater share of people now have some form of health insurance, many remain uninsured — particularly in states that haven't expanded Medicaid access. Driving the news: The uninsured rate for working-age U.S. adults dropped from 20.4% in 2013 to 11% in 2023, according to an analysis of census data from the Commonwealth Fund, a health care foundation. California (-15 percentage points), New Mexico (-14.9) and Louisiana (-14.7) had the biggest drops over that period — meaning more residents are now insured. Washington, D.C. (3.4%), Massachusetts (3.6%) and Hawai'i (3.9%) had the lowest uninsured rates as of 2023. Caveat: Places that already enjoyed relatively low uninsured rates in 2013, like Massachusetts and D.C., had less room for improvement over the following decade. Reality check: Despite these gains, some states still have high rates of uninsured working-age adults. In Texas, for example, the uninsured rate is 21.6% as of 2023 — meaning about one in five adults lacks health coverage. Context: Under the ACA, states can expand Medicaid coverage to adults with incomes up to 138% of the federal poverty level. 10 states have not done so. Zoom in: The states that still have relatively high uninsured rates "generally haven't expanded Medicaid," per the report, which compares the cases of Kentucky and Tennessee. In Kentucky, which was quick to expand Medicaid, "the uninsured rate for people with incomes under 200% of poverty fell by two-thirds between 2013 and 2023," the report says. "By contrast, in Tennessee, which has not expanded Medicaid, the uninsured rate for the same group of low-income adults declined by only one-third." Zoom out: Many residents of states that haven't expanded Medicaid can still get covered under ACA marketplace plans. Between the lines: About 5 million uninsured people are ineligible for coverage under ACA expansions because of their immigration status, affecting the overall numbers in states with many residents lacking legal status.
