FOX Business correspondent Grady Trimble reports on the heated conversations in Congress over Obamacare subsidies and the growing impact of the government shutdown on ‘Varney & Co.’
Republicans and Democrats remain far apart on what to do about Obamacare, with how to handle expiring subsidies being the main sticking point in talks to re-open the federal government.
Back when former President Barack Obama signed the legislation into law in 2010, he promised it would “lower costs for families and for businesses and for the federal government, reducing our deficit by over $1T in the next two decades.”
DEMOCRATS BLAME GOP FOR OBAMACARE WOES TIED TO PANDEMIC-ERA SUBSIDIES
Sen. Rick Scott, R-Fla, walks to a closed-door, classified briefing for Senators at U.S. Capitol Building on Feb. 14, 2023. (Anna Moneymaker/Getty Images / Getty Images)
But, Republicans argue Obamacare has done the opposite, with Sen. Rick Scott, R-Fla., telling FOX Business, “Look at how much this is all costing us. Obamacare was sold on a lie. The costs have skyrocketed.”
FLASHBACK: TED CRUZ PREDICTS BALLOONING OBAMACARE SUBSIDIES NOW AT CENTER OF SHUTDOWN FIGHT
Senate Majority Leader Chuck Schumer, D-N.Y., delivers remarks to the press on Feb. 27, 2024. (Roberto Schmidt/Getty Images)
The Congressional Budget Office (CBO) finds extending the expiring premiums would increase the deficit by roughly $350B through 2035, while the Washington Post reports that average Obamacare premiums are set to rise 30% next year.
‘THE PANDEMIC’S OVER’: GOP, DEM SENATORS SPAR ON CAMERA OVER COSTLY OBAMACARE SUBSIDIES
The U.S. Capitol as a storm rolls toward Capitol Hill on July 1, 2025, in Washington D.C. (Demetrius Freeman/The Washington Post via Getty Images / Getty Images)
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It all comes as Republicans say they’re willing to negotiate the subsidies once the government reopens, but Senate Democrats are dug in.
