Repealing ACA Would Cost Virginia's Economy Billions Of Dollars And 50,000-100,000 Jobs
According to new study by the Commonwealth Fund and George Washington University’s Milken Institute School of Public Health
Rep. Don Beyer pledged today to fight any Republican proposal to repeal the Affordable Care Act (ACA), as a new study from George Washington University’s Milken Institute School of Public Health and the Commonwealth Fund suggested that such a repeal would have dire effects on Virginia’s economy.
“The Republican plan to repeal the Affordable Care Act will have disastrous consequences for Virginia,” said Rep. Beyer. “Hundreds of thousands of our neighbors will lose life-saving, affordable health coverage. The state also stands to lose as many as 100,000 jobs, $30 billion in gross state product, and $50 billion in business output. This is unacceptable and irresponsible.”
The job losses predicted by the Commonwealth Fund/GW study would hit as early as 2019, while the large damage to the state economy is estimated for the first five years (2019-2023) following repeal of the law.