How will the repeal of the Affordable Care Act affect the economy?

by JS, ISB Staff Writer

The nonpartisan Congressional Budget Office and other expert reviewers have warned of the drastic impact of ACA repeal on patient coverage and care, the most important being the loss of health insurance coverage by 22 million people. But how would the repeal affect the general economy including jobs and incomes like mine?

  • The biggest portion of healthcare costs goes to compensation for the many people who take care of us, from physicians to technologists. Repeal of the ACA will have a devastating impact on the healthcare labor force, comprised largely of professionals with middle class jobs.
  • In addition to the direct labor impact, there are ripple effects to many other sectors of the economy: for example, industries that support healthcare (manufacture and sales of medical supplies and equipment) would see sales decrease and their own employee numbers reduced.

 

Did the formation of the ACA create jobs?

 

What kind of job loss would result from repeal?

 

How will the repeal affect jobs in California?

 

Will tax cuts balance/mitigate this job loss?