Donald Trump promised that whatever it takes he will fulfill his “America First” goal. However, with his administration trying to repeal Affordable Care Act (ACA), it would cost more job loss in the United States. The new research shows that repealing Obamacare will be up to no good for the country.
The Economic Policy Institute (EPI) released its latest study, which showed that repealing Affordable Care Act (ACA) also known as Obamacare would lead to a significant job loss in the United States. It would reduce job growth and availability in the country by 2019. Jobs that will be affected are not only in the healthcare sector but as well as other industries. In fact, all states will be affected and that every state will lose jobs.
“That is because the spending cuts would hurt job growth more than the tax cuts would help it. The benefit cuts would come mostly out of the pockets of cash-constrained households that will be likely to significantly cut back their spending in response to lower disposable income, while the tax cuts would disproportionately go to high-income households who tend to save a significant portion of increases in disposable income,” stated on the report.
The Huffington Post shared that since the Obamacare became a law last 2010, the Republicans are already making ways on how to repeal it. Republicans believe that it will only screw up the economy because of taxes. By getting rid of the law, they think that the economy will pick up even more and that would result in more jobs availability.
However, Josh Bivens, the Research Director at the EPI strongly disagree with the Republicans. Bivens’ believes that repealing ACA would only slow down the economy since job availability by 2019 will be lower.
Meanwhile, Jobs & Hire reported that a survey was conducted which showed that Donald Trump’s presidency will likely to have no effect hiring in the booming tech industry.