Washington, DC – The Trump administration announced Wednesday that it will slash the amount of money Medicare and other health care programs are receiving through the Affordable Care Act.
The move follows a meeting between the Trump administration and health care providers in the White House to discuss ways to improve Medicare.
The administration will end payments to health care plans in the Medicare program for the elderly and disabled, as well as other federal health care entitlement programs that pay for health care for the poor.
It will also reduce federal spending for health insurance exchanges and other federal programs that provide affordable health insurance to millions of Americans.
The budget plan released by the Trump transition team Wednesday also includes $100 billion in tax cuts for individuals and corporations.
The plan would also reduce the corporate tax rate from 35 percent to 25 percent and eliminate a $2,000 cap on tax deductions for individuals.
The announcement comes after the Trump White House released a budget proposal that would slash funding for the Environmental Protection Agency, the National Institutes of Health and other environmental programs.