24 million Americans will see their insurance premiums skyrocket. “This is absolute bullsh*t.”

Heather Cox Richardson | Letters from an American

HCR
Heather Cox Richardson

December 17, 2025

This morning, four vulnerable Republicans signed onto the discharge petition all House Democrats have signed to force Speaker Mike Johnson (R-LA) to bring a bill to extend the premium tax credits for purchasing healthcare insurance on the Affordable Care Act (ACA) markets to the floor for a vote. The proposal extends the credits for three years.

Republicans who recognize that the American people overwhelmingly want the extensions have been fighting their colleagues who want to get rid of the ACA and slash government spending in general. Instead of extending the credits, House leadership is proposing a package of policies popular among their conference; the nonpartisan Congressional Budget Office reports that it will drop about 100,000 people a year off health insurance through 2035 but will save the government $35.6 billion.

Without the extension of the premium tax credits, which Republicans permitted to lapse at the end of the year when they passed their July budget reconciliation bill that they call the “One Big Beautiful Bill Act,” the 24 million Americans who buy insurance on the ACA marketplace will see their insurance premiums skyrocket, and millions will lose their health insurance altogether. And yet, Republicans oppose the extensions, which will cost the government about $350 billion over the next ten years. The Republicans’ extension of the 2017 tax cuts in that same bill will cost about $4 trillion over the same period.

Yesterday, Johnson dismissed the members of his conference who wanted to vote on the extension, saying that “many of them did want a vote on this Obamacare covid-era subsidy the Democrats created. We looked for a way to try to allow for that pressure release valve, and it just was not to be.” Representative Mike Lawler (R-NY) told reporters: “This is absolute bullsh*t.”

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Trump claims he created the “greatest” economy in history. Americans are not impressed

Heather Cox Richardson | Letters from an American

HCR
Heather Cox Richardson

December 11, 2025

On Tuesday, President Donald J. Trump kicked off his nationwide tour to assure Americans that the Republicans are focused on bringing down costs. Voters turned to Trump in 2024 in large part because he promised that his understanding of the economy would enable him to bring down the prices that had risen in the global inflation spike after the Covid-19 pandemic shut down the world economy.

Within weeks of the election, Trump began to back off on that promise, telling a reporter for Time magazine in December 2024 that “it’s very hard” to bring down prices. Then in April he launched a tariff war that began to raise prices, while his on-again, off-again tariff rates discouraged businesses from investing while they waited to see what made economic sense.

Americans are not impressed with Trump’s handling of the economy. A poll by AP/NORC, which stands for Associated Press/National Opinion Research Center at the University of Chicago—a very reputable polling collaboration—released today shows that only 31% of American adults approve of Trump’s management of the economy, with 67% disapproving. Among Independents, that number breaks down to 15% approving and 80% disapproving.

Trump’s overall numbers are not much better. Just 36% of American adults approve of his job performance, with 61% disapproving. Among Independents, just 20% approve, while 74% disapprove. With them, he is underwater by an astonishing 54 points.

So Trump’s advisors have sent him off on a tour to convince Americans the administration shares their concerns about the economy.

Read more: Trump claims he created the “greatest” economy in history. Americans are not impressed

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