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Grassley Skeptical of Industry’s Health Care Plans « The Washington Independent

Jul 31, 2020
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Earlier today, the giants of the health care industry deliveredto the White House their plans to trim the nation’s skyrocketing medical costs — strategies they say will save a cool $2 trillion over the next decade.
A few minutes ago, Sen. Charles Grassley (R-Iowa) issued a two-sentence statement reacting to that plan, which can be translated like this: I’ll believe it when I see it.
I’m skeptical that these proposals will add up to anywhere near $2 trillion. In the legislative process, proposals rise or fall based on what [the Congressional Budget Office] says about them, and the same will be true here.
Two things to keep in mind here: (1) Grassley, as the senior Republican on the Senate Finance Committee, will be on the front lines of the looming health reform debate, so his skepticism could easily translate into policy. And (2) claims of “savings” in Washington often don’t mean savings at all, but instead indicate a reduction in projected growth. The balance these industries are trying to locate is how to pull in as much money as they can without bankrupting the entire system.
Camilo Wood

Camilo Wood

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Camilo Wood has over two decades of experience as a writer and journalist, specializing in finance and economics. With a degree in Economics and a background in financial research and analysis, Camilo brings a wealth of knowledge and expertise to his writing. Throughout his career, Camilo has contributed to numerous publications, covering a wide range of topics such as global economic trends, investment strategies, and market analysis. His articles are recognized for their insightful analysis and clear explanations, making complex financial concepts accessible to readers. Camilo's experience includes working in roles related to financial reporting, analysis, and commentary, allowing him to provide readers with accurate and trustworthy information. His dedication to journalistic integrity and commitment to delivering high-quality content make him a trusted voice in the fields of finance and journalism.
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