House Budget Committee advances Medicaid cuts and tax extensions in a rushed bill contributing to U.S. credit downgrade and fiscal challenges. Impact on insurers and federal budget outlined.

The Congressional Budget Office projects that House Republican healthcare proposals could reduce federal spending by $912 billion but result in 8.6 million people losing insurance coverage over a decade. This analysis underscores the fiscal and coverage impacts of proposed Medicaid and ACA cuts.

Steve Bannon cautions President Trump against cutting Medicaid in light of large proposed federal budget cuts, raising concerns for millions who depend on the program.

The insurance industry pushes for tax benefits on annuity and pension products in the upcoming budget, aiming to enhance retirement savings and improve accessibility to life insurance.