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The Hill
6 days ago
- Business
- The Hill
Senate GOP unveils Trump tax agenda plans
The Big Story Senate Republicans just released their long-awaited version of President Trump's tax agenda, which would make the 2017 corporate tax cuts permanent and cut hundreds of billions of dollars in Medicaid spending. © The Associated Press The legislative text crafted by Senate Finance Committee Republicans represents the core of Trump's 'big, beautiful bill' and includes the populist tax breaks that the president campaigned on, including provisions to shield tipped income from taxation. But it includes several changes that puts Senate Republicans on a collision course with the House. The measure encompasses the most controversial sections of the bill, such as proposals to impose stricter work and eligibility requirements for Medicaid and to reduce the federal government's share of Medicaid spending in states. It would raise the debt ceiling by $5 trillion, instead of the $4 trillion increase adopted by House Republicans. The debt-ceiling language is a major problem for Sen. Rand Paul (R-Ky.), who has told his leadership he won't support the bill if it includes such a large extension of federal borrowing authority. Several Republican senators have raised concerns about the Medicaid spending cuts endorsed by the House, including Sens. Susan Collins (Maine), Josh Hawley (Mo.), Jerry Moran (Kan.) and Lisa Murkowski (Alaska). The Congressional Budget Office estimated earlier this month that the House-passed bill would cut federal spending on Medicaid and the Children's Health Insurance Program by $863 billion over 10 years. The Hill's Alex Bolton has more here. Welcome to The Hill's Business & Economy newsletter, I'm Aris Folley — covering the intersection of Wall Street and Pennsylvania Avenue. Did someone forward you this newsletter? Subscribe here. Essential Reads Key business and economic news with implications this week and beyond: SALT Caucus Republicans seethe at $10K cap in Senate's 'big, beautiful bill' Moderate House Republicans from high-tax blue states are seething at the Senate's proposal to keep the state and local tax (SALT) deduction cap at $10,000, setting the stage for a showdown over one of the thorniest aspects of the GOP's 'big, beautiful bill.' 60 percent disapprove of Trump's handling of tariffs, trade: Survey Sixty percent of surveyed Americans say they disapprove of the way President Trump is handling trade and tariffs, according to a new NBC News Decision Desk poll powered by SurveyMonkey. Southwest Airlines adding cockpit safety alerts to detect runway hazards Southwest Airlines has added a new cockpit safety tool to most of its fleet that could prevent the types of close runway calls that have raised concerns in recent years. The Ticker Upcoming news themes and events we're watching: In Other News Branch out with more stories from the day: Trump Organization announces new 'Trump Mobile' phone service The Trump Organization announced Monday it is launching a new mobile phone business: Trump Mobile. Good to Know Business and economic news we've flagged from other outlets: What Others are Reading Top stories on The Hill right now: 5 takeaways from Trump's Army parade The nation's capital on Saturday was overtaken by the sight of tanks rolling down the street and Army helicopters buzzing in the sky for a military parade to mark the 250th anniversary of the U.S. Army. Read more Klobuchar condemns Mike Lee's posts about Minnesota suspect: 'This isn't funny' Sen. Amy Klobuchar (D-Minn.) on Monday condemned social media posts from her colleague Sen. Mike Lee (R-Utah) spreading unfounded claims about the man suspected of killing a Minnesota Democratic lawmaker and her husband Saturday morning. Read more What People Think Opinions related to business and economic issues submitted to The Hill: You're all caught up. See you tomorrow! Thank you for signing up! Subscribe to more newsletters here
The Hill
12-06-2025
- Politics
- The Hill
The Rahm Emanuel I know: Separating caricature from character
A news frenzy has emerged in recent weeks around Rahm Emanuel's potential 2028 presidential run. To dispel with any suspense: I know Rahm well — and, no, I don't know whether he will run. I do know this: Any conventional wisdom diminishing his ability to compete is unwise. That's because Emanuel can't be easily discounted. He deserves more than just casual observation. It's not easy. As I've said in several interviews, he may be the best-known American political leader that most people don't really know. To understand Emanuel requires the delicate separation of caricature from his character. First the caricature. Like most exaggerated imagery, there is a foundational realism. Emanuel is combative, brash, profane. Yes, he did once send a dead fish to a Democratic campaign pollster who he felt had let him down during a House race. And President Barack Obama did once quip that Emanuel was 'rendered practically mute' when he lost part of his middle finger in an accident. I once introduced him to a Long Island political leader, just off the floor of the House. The meeting was civil and relatively inconsequential. My guest later expressed disappointment because Emanuel hadn't cursed once. He'd come to meet the legend and instead he got the legislator. This may be a challenge for Emanuel and his supporters: reminding Democratic primary voters that the style serves the substance. Sure, he likes to win, in blitzkrieg fashion. But the conventional stories about 'how' he wins often reduce him to an elite partisan athlete, competing merely for the sake of victory. There's more to him than that. The calculation is clear, simple and paramount in his mind: You achieve victory in order to govern with values. Nothing else matters. That's why Emanuel has always been one of the first calls for virtually every major Democratic leader over the past 30-plus years. When President Bill Clinton decided to take on the NRA to enact more stringent gun safety measures, he called on Emanuel. The result: the Brady Handgun Bill and the Federal Assault Weapons Ban, followed by Clinton romping to reelection in 1996. Also under Clinton, Emanuel helped pass the Children's Health Insurance Program, which has given millions of America's kids health care and helped cut the child uninsured rate from around 14 percent in 1996 to roughly 5 percent in recent years. When Obama took office, Emanuel took on the special interests that caused the 2008 economic meltdown, and helped guide the passage of the Affordable Care Act — which President Trump seeks to begin dismantling in the current budget reconciliation bill. Then there was his Chicago mayoralty, from 2011 through 2019. Governing large cities is as tough a job as there is in politics. It's about delivering results, winning on values that protect lives and create opportunity. In Emanuel's case, he was the first big city mayor to sue the pharmaceutical industry over opioids (before even any state attorney general did), he made community college free and he took on an entrenched bureaucracy. None of these accomplishments was possible without a willingness to throw — and take — some punches. He has a brawling reputation because he's willing to take on the hardest battles: big banks, gun manufacturers, insurance companies. Going toe to toe, even with nine and a half fingers. Again, whether or not he runs remains to be seen. But one thing is clear in both caricature and character: Democrats need candidates who know how to fight and win if we're to defeat MAGA. Steve Israel represented New York in the House of Representatives for eight terms and was chairman of the Democratic Congressional Campaign Committee from 2011 to 2015.
Yahoo
12-06-2025
- Health
- Yahoo
RFK Jr.'s latest big move could leave you paying more for vaccines
Health Secretary Robert F. Kennedy Jr. sent shockwaves through the scientific community this week when he fired all 17 members of the federal government's key vaccine advisory board, raising concerns that he might try to replace them with immunization skeptics. Those fears were confirmed for many on Wednesday when Kennedy unveiled eight new members who included some of the most prominent critics of the COVID-19 vaccines. The swap could have wide-reaching public health consequences. But one of the most straightforward impacts may be on consumers' wallets. That's because recommendations by the board — known as the Advisory Committee for Immunization Practices, or ACIP — determine which vaccines most insurance plans are required to cover at zero cost, such as inoculation against measles or your annual flu shot. If the new members decide to reverse the panel's old guidance, patients could find themselves paying out of pocket for vaccines that were once available for free. 'For the average person who has never heard of ACIP before, this could affect their access to vaccines,' said Jennifer Kates, a senior vice president at the healthcare think tank KFF. Created in 1964, ACIP is the official outside panel of medical experts responsible for advising the Centers for Disease Control and Prevention (CDC) on what to include on its lists of routine shots for both children and adults. While its recommendations aren't binding, federal officials have typically adopted them. As a result, the board's decisions carry enormous weight, affecting patients and parents, as well as the vaccines schools require for students. Over the years, the panel has played a growing role in determining insurance coverage as well. By law, shots recommended by ACIP must be covered by the free Vaccines for Children program, the Children's Health Insurance Program, Medicaid, and Medicare Part D. The Affordable Care Act also requires private insurers to pay for vaccines with no cost sharing if they have the panel's seal of approval. (Past administrations have said the rule only applies if the CDC also adopts the board's recommendation.) In a Wall Street Journal op-ed this week, Kennedy said his decision to replace the board was meant to fight a 'crisis of public trust' in vaccines by ridding the committee of what he described as 'persistent conflicts of interest.' (Kennedy's critics have argued that his allegations against ACIP's former members are unfounded.) His new picks for the panel include several figures who rose to national fame by casting doubt on the safety of COVID-19 vaccines. Among them is Dr. Robert Malone, an accomplished scientist who did pioneering work on mRNA technology but later attacked its use in shots during the pandemic and who was at one point banned from Twitter for spreading COVID misinformation. He'll be joined by Retsef Levi, an MIT business school professor who gained attention in 2023 for claiming there was 'indisputable evidence' that 'MRNA vaccines cause serious harm including death,' and Dr. Martin Kulldorff, who advocated letting COVID spread among younger Americans to achieve 'herd immunity' and was later let go from Harvard Medical after refusing to be vaccinated. In his announcement, Kennedy said that each new member of ACIP was 'committed to demanding definitive safety and efficacy data before making any new vaccine recommendations' — suggesting they'll be less likely to add new shots to the government's immunization schedules. But he added that the board will also 'review safety and efficacy data for the current schedule as well,' raising the possibility that it will scrap some of its old recommendations. Even before this week's shake-up, the government had already begun changing its recommendations on COVID shots. In May, the CDC dropped its recommendation that healthy pregnant women receive the vaccine and revised its guidance for young children, saying they should only receive it after consultation with a doctor. Private insurers could still choose to cover vaccines even if the federal government stops recommending them. Whether they will is less certain. 'That's territory we haven't really had to traverse before,' said KFF's Kates. Sarah Moselle, a vaccine market expert at the health industry consulting firm Avalere, said there may be some 'fragmentation' in how carriers approach the issue. Some may drop coverage entirely or begin requiring co-pays. But many 'do anticipate that they would continue to cover some vaccines,' even if they aren't required to, since it would 'add value' for their customers, she said. In theory, insurers could also have an incentive to maintain vaccine coverage since it could keep their patients healthier and reduce the costs of their care, though it's unclear exactly how those savings would stack up against the added expense of paying for shots. For many vaccines, the out-of-pocket cost might be relatively cheap for patients. But others could turn out to be steep. Take Gardasil, the HPV vaccine that has been the focus of growing safety concerns among patients despite studies suggesting they're unfounded. Some experts told Yahoo Finance they thought the shot could be a target for more scrutiny under Kennedy's new ACIP. Currently, the shot is covered by insurance because it's recommended for pre-teens through young adults. The CDC lists its full price at over $300 a dose. Even modest costs can dissuade patients from getting vaccinated, according to Loren Adler, associate director at the Brookings Institution's Center on Health Policy. 'We know that folks having to pay $10 for a vaccine limits the uptake somewhat,' he said. As a result, just a small increase in what patients have to pay out of pocket could have ripple effects on public health. One issue to keep an eye on, according to Moselle, is whether state governments step in to require more extensive insurance coverage of vaccines if the federal government walks back some of its recommendations. If they do, vaccine access could start to vary more by where patients happen to live. Jordan Weissmann is a senior reporter at Yahoo Finance. Click here for in-depth analysis of the latest health industry news and events impacting stock prices
Yahoo
12-06-2025
- Health
- Yahoo
RFK Jr.'s latest big move could leave you paying more for vaccines
Health Secretary Robert F. Kennedy Jr. sent shockwaves through the scientific community this week when he fired all 17 members of the federal government's key vaccine advisory board, raising concerns that he might try to replace them with immunization skeptics. Those fears were confirmed for many on Wednesday when Kennedy unveiled eight new members who included some of the most prominent critics of the COVID-19 vaccines. The swap could have wide-reaching public health consequences. But one of the most straightforward impacts may be on consumers' wallets. That's because recommendations by the board — known as the Advisory Committee for Immunization Practices, or ACIP — determine which vaccines most insurance plans are required to cover at zero cost, such as inoculation against measles or your annual flu shot. If the new members decide to reverse the panel's old guidance, patients could find themselves paying out of pocket for vaccines that were once available for free. 'For the average person who has never heard of ACIP before, this could affect their access to vaccines,' said Jennifer Kates, a senior vice president at the healthcare think tank KFF. Created in 1964, ACIP is the official outside panel of medical experts responsible for advising the Centers for Disease Control and Prevention (CDC) on what to include on its lists of routine shots for both children and adults. While its recommendations aren't binding, federal officials have typically adopted them. As a result, the board's decisions carry enormous weight, affecting patients and parents, as well as the vaccines schools require for students. Over the years, the panel has played a growing role in determining insurance coverage as well. By law, shots recommended by ACIP must be covered by the free Vaccines for Children program, the Children's Health Insurance Program, Medicaid, and Medicare Part D. The Affordable Care Act also requires private insurers to pay for vaccines with no cost sharing if they have the panel's seal of approval. (Past administrations have said the rule only applies if the CDC also adopts the board's recommendation.) In a Wall Street Journal op-ed this week, Kennedy said his decision to replace the board was meant to fight a 'crisis of public trust' in vaccines by ridding the committee of what he described as 'persistent conflicts of interest.' (Kennedy's critics have argued that his allegations against ACIP's former members are unfounded.) His new picks for the panel include several figures who rose to national fame by casting doubt on the safety of COVID-19 vaccines. Among them is Dr. Robert Malone, an accomplished scientist who did pioneering work on mRNA technology but later attacked its use in shots during the pandemic and who was at one point banned from Twitter for spreading COVID misinformation. He'll be joined by Retsef Levi, an MIT business school professor who gained attention in 2023 for claiming there was 'indisputable evidence' that 'MRNA vaccines cause serious harm including death,' and Dr. Martin Kulldorff, who advocated letting COVID spread among younger Americans to achieve 'herd immunity' and was later let go from Harvard Medical after refusing to be vaccinated. In his announcement, Kennedy said that each new member of ACIP was 'committed to demanding definitive safety and efficacy data before making any new vaccine recommendations' — suggesting they'll be less likely to add new shots to the government's immunization schedules. But he added that the board will also 'review safety and efficacy data for the current schedule as well,' raising the possibility that it will scrap some of its old recommendations. Even before this week's shake-up, the government had already begun changing its recommendations on COVID shots. In May, the CDC dropped its recommendation that healthy pregnant women receive the vaccine and revised its guidance for young children, saying they should only receive it after consultation with a doctor. Private insurers could still choose to cover vaccines even if the federal government stops recommending them. Whether they will is less certain. 'That's territory we haven't really had to traverse before,' said KFF's Kates. Sarah Moselle, a vaccine market expert at the health industry consulting firm Avalere, said there may be some 'fragmentation' in how carriers approach the issue. Some may drop coverage entirely or begin requiring co-pays. But many 'do anticipate that they would continue to cover some vaccines,' even if they aren't required to, since it would 'add value' for their customers, she said. In theory, insurers could also have an incentive to maintain vaccine coverage since it could keep their patients healthier and reduce the costs of their care, though it's unclear exactly how those savings would stack up against the added expense of paying for shots. For many vaccines, the out-of-pocket cost might be relatively cheap for patients. But others could turn out to be steep. Take Gardasil, the HPV vaccine that has been the focus of growing safety concerns among patients despite studies suggesting they're unfounded. Some experts told Yahoo Finance they thought the shot could be a target for more scrutiny under Kennedy's new ACIP. Currently, the shot is covered by insurance because it's recommended for pre-teens through young adults. The CDC lists its full price at over $300 a dose. Even modest costs can dissuade patients from getting vaccinated, according to Loren Adler, associate director at the Brookings Institution's Center on Health Policy. 'We know that folks having to pay $10 for a vaccine limits the uptake somewhat,' he said. As a result, just a small increase in what patients have to pay out of pocket could have ripple effects on public health. One issue to keep an eye on, according to Moselle, is whether state governments step in to require more extensive insurance coverage of vaccines if the federal government walks back some of its recommendations. If they do, vaccine access could start to vary more by where patients happen to live. Jordan Weissmann is a senior reporter at Yahoo Finance. Click here for in-depth analysis of the latest health industry news and events impacting stock prices
Yahoo
12-06-2025
- Health
- Yahoo
RFK Jr.'s latest big move could leave you paying more for vaccines
Health Secretary Robert F. Kennedy Jr. sent shockwaves through the scientific community this week when he fired all 17 members of the federal government's key vaccine advisory board, raising concerns that he might try to replace them with immunization skeptics. Those fears were confirmed for many on Wednesday when Kennedy unveiled eight new members who included some of the most prominent critics of the COVID-19 vaccines. The swap could have wide-reaching public health consequences. But one of the most straightforward impacts may be on consumers' wallets. That's because recommendations by the board — known as the Advisory Committee for Immunization Practices, or ACIP — determine which vaccines most insurance plans are required to cover at zero cost, such as inoculation against measles or your annual flu shot. If the new members decide to reverse the panel's old guidance, patients could find themselves paying out of pocket for vaccines that were once available for free. 'For the average person who has never heard of ACIP before, this could affect their access to vaccines,' said Jennifer Kates, a senior vice president at the healthcare think tank KFF. Created in 1964, ACIP is the official outside panel of medical experts responsible for advising the Centers for Disease Control and Prevention (CDC) on what to include on its lists of routine shots for both children and adults. While its recommendations aren't binding, federal officials have typically adopted them. As a result, the board's decisions carry enormous weight, affecting patients and parents, as well as the vaccines schools require for students. Over the years, the panel has played a growing role in determining insurance coverage as well. By law, shots recommended by ACIP must be covered by the free Vaccines for Children program, the Children's Health Insurance Program, Medicaid, and Medicare Part D. The Affordable Care Act also requires private insurers to pay for vaccines with no cost sharing if they have the panel's seal of approval. (Past administrations have said the rule only applies if the CDC also adopts the board's recommendation.) In a Wall Street Journal op-ed this week, Kennedy said his decision to replace the board was meant to fight a 'crisis of public trust' in vaccines by ridding the committee of what he described as 'persistent conflicts of interest.' (Kennedy's critics have argued that his allegations against ACIP's former members are unfounded.) His new picks for the panel include several figures who rose to national fame by casting doubt on the safety of COVID-19 vaccines. Among them is Dr. Robert Malone, an accomplished scientist who did pioneering work on mRNA technology but later attacked its use in shots during the pandemic and who was at one point banned from Twitter for spreading COVID misinformation. He'll be joined by Retsef Levi, an MIT business school professor who gained attention in 2023 for claiming there was 'indisputable evidence' that 'MRNA vaccines cause serious harm including death,' and Dr. Martin Kulldorff, who advocated letting COVID spread among younger Americans to achieve 'herd immunity' and was later let go from Harvard Medical after refusing to be vaccinated. In his announcement, Kennedy said that each new member of ACIP was 'committed to demanding definitive safety and efficacy data before making any new vaccine recommendations' — suggesting they'll be less likely to add new shots to the government's immunization schedules. But he added that the board will also 'review safety and efficacy data for the current schedule as well,' raising the possibility that it will scrap some of its old recommendations. Even before this week's shake-up, the government had already begun changing its recommendations on COVID shots. In May, the CDC dropped its recommendation that healthy pregnant women receive the vaccine and revised its guidance for young children, saying they should only receive it after consultation with a doctor. Private insurers could still choose to cover vaccines even if the federal government stops recommending them. Whether they will is less certain. 'That's territory we haven't really had to traverse before,' said KFF's Kates. Sarah Moselle, a vaccine market expert at the health industry consulting firm Avalere, said there may be some 'fragmentation' in how carriers approach the issue. Some may drop coverage entirely or begin requiring co-pays. But many 'do anticipate that they would continue to cover some vaccines,' even if they aren't required to, since it would 'add value' for their customers, she said. In theory, insurers could also have an incentive to maintain vaccine coverage since it could keep their patients healthier and reduce the costs of their care, though it's unclear exactly how those savings would stack up against the added expense of paying for shots. For many vaccines, the out-of-pocket cost might be relatively cheap for patients. But others could turn out to be steep. Take Gardasil, the HPV vaccine that has been the focus of growing safety concerns among patients despite studies suggesting they're unfounded. Some experts told Yahoo Finance they thought the shot could be a target for more scrutiny under Kennedy's new ACIP. Currently, the shot is covered by insurance because it's recommended for pre-teens through young adults. The CDC lists its full price at over $300 a dose. Even modest costs can dissuade patients from getting vaccinated, according to Loren Adler, associate director at the Brookings Institution's Center on Health Policy. 'We know that folks having to pay $10 for a vaccine limits the uptake somewhat,' he said. As a result, just a small increase in what patients have to pay out of pocket could have ripple effects on public health. One issue to keep an eye on, according to Moselle, is whether state governments step in to require more extensive insurance coverage of vaccines if the federal government walks back some of its recommendations. If they do, vaccine access could start to vary more by where patients happen to live. Jordan Weissmann is a senior reporter at Yahoo Finance. Click here for in-depth analysis of the latest health industry news and events impacting stock prices
