WASHINGTON, DC – U.S. Senator Jack Reed today issued the following statement after President Trump signed an executive order intended to undermine the Affordable Care Act (ACA) and cause uncertainty in U.S. health insurance markets nationwide:

“This is beyond irresponsible.  The President seems to be carrying out a personal vendetta to destabilize health insurance markets, raise everyone’s costs, and leave more Americans without health care.  This President is so determined to implode Obamacare that he doesn’t seem to care about collateral damage to working families. 

“The CBO has already warned that if President Trump refuses to make these payments, he will send premiums soaring and increase federal budget deficits by $194 billion in the coming decade.  This is a reckless, desperate act and it’s time for Congressional Republicans in DC to step up and truly join Democrats like me who have been calling for fixing, not breaking our health insurance system.”

In August, CBO released an analysis that clearly stated that ending the cost-sharing reduction payments would increase the deficit by $194 billion over 10 years.