Trump will scrap critical Obamacare subsidy

I’m going to bed. I’m sure there will be some insane tweeting tomorrow at who knows what.

President Donald Trump will cut off subsidy payments to insurers selling Obamacare coverage in its most aggressive move yet to undermine the health law, the White House announced Thursday night.

“Based on guidance from the Department of Justice, the Department of Health and Human Services has concluded that there is no appropriation for cost-sharing reduction payments to insurance companies under Obamacare,” Press Secretary Sarah Huckabee Sanders said in a statement emailed at 10:47 p.m. Thursday.
“In light of this analysis, the Government cannot lawfully make the cost-sharing reduction payments. …The bailout of insurance companies through these unlawful payments is yet another example of how the previous administration abused taxpayer dollars and skirted the law to prop up a broken system.”

The subsidies, worth an estimated $7 billion this year and paid out in monthly installments, may stop almost immediately.