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As Congress considers cuts to safety net programs in what Republicans are calling the "One Big Beautiful Bill Act," a new analysis from the nonpartisan Congressional Budget Office estimates 16 million Americans, including 140,000 in Colorado, would lose Medicaid health insurance.

Josh Bivens, chief economist at nonpartisan think tank the Economic Policy Institute, said if the bill passes as-is, health providers would see a steep increase in what is known as uncompensated care, when people without coverage get sick but cannot afford to pay their medical bill.

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"It means hospitals and doctors no longer receive that income stream from Medicaid payments," Bivens pointed out. "Lots of them are going to be forced out of business and there's going to be closures of hospitals, especially in rural counties."

Republicans have cast doubt on the Congressional Budget Office projections and claimed cutting $715 billion from Medicaid by eliminating fraud and adding work requirements for adults would not reduce coverage. The GOP bill aims to fund Trump administration priorities, including more immigration raids and border wall construction, and extending tax cuts passed in 2017.

Bivens stressed if the bill becomes law, it would result in what he describes as the direct transfer of income from vulnerable families to the richest Americans. He noted the average cuts to Medicaid, which would kick in after the 2026 midterm elections, would be more than $70 billion a year.

"Then if you look at the tax cuts that will be received by just people making over $1 million per year, those are $70 billion as well," Bivens explained. "We're going to take $70 billion away from poor families on Medicaid, and we're going to give it to families who are making more than $1 million per year."

Six Nobel laureate economists have signed an open letter opposing cuts to safety net programs in the budget reconciliation bill, warning the measure would add $5 trillion to the national debt.

While headlines about the latest Trump-Musk feud may catch more people's attention, Bivens added the bill will have the biggest effects on Coloradans.

"I think the fact that six Nobel Prize winners said, 'This is important enough for me to try to draw attention to the implications of this bill,' should make people realize the stakes are really large," Bivens emphasized.