Trump conceals Medicaid cuts in effort to pass major tax bill, Bloomberg says

Donald Trump originally resisted cutting funds for Medicaid, until his budget director Russell Vought convinced the president reductions to health coverage were weeding out fraud and abuse, Nancy Cook of Bloomberg reports. Trump has adopted this rhetoric and has declared his bill contains “no cuts” to the social safety program, even as the Congressional Budget Office estimates at least 7.6M will become uninsured if the bill goes into effect. The Medicaid cuts of about $723B represent a major bill payer as Republicans look to counter the effects of tariffs. Publicly traded companies in the healthcare space include CVS Health (CVS), Centene (CNC), Cigna (CI), Elevance Health (ELV), Humana (HUM), Molina Healthcare (MOH) and UnitedHealth (UNH).