Federal Budget Bill Passed and Signed into Law
(July 8, 2025) At the end of last week, LeadingAge National reported that the U.S. House of Representatives passed H.R. 1 by a vote of 218 to 214. The vote came after an 8-hour, 44-minute floor speech opposing the bill by House Minority Leader Hakeem Jeffries (D-NY). The bill is expected to result in the loss of health insurance for at least 11.5 million people and reduce federal Medicaid funding by at least $900 billion over the next 10 years. A statement from LeadingAge National President and CEO Katie Smith Sloan is available here.
On July 4th, the President signed the bill into law. This article from CBS News covers the bill signing and highlights several of the major tax, Medicaid, Supplemental Nutrition Assistance Program (SNAP), and energy-related provisions of the budget package. The legislation is estimated to raise the debt ceiling by $5 trillion, going beyond the $4 trillion outlined in the initial House-passed bill (approved in May). Congress faces a deadline to address the debt limit later this summer.
The implementation dates and timelines vary for many of the policies included in the final legislation. LeadingAge National and LeadingAge NY are digesting all final provisions and will continue to provide summaries of key elements related to long-term care, along with potential implications for NY. Latest updates and analysis from LeadingAge National are available via this serial post on budget reconciliation. LeadingAge NY shares additional updates here and here.
As we digest the final details, one thing remains clear: the federal budget package will result in NY losing billions in federal Medicaid dollars annually, which will force the State to make some difficult decisions over the next 6-12 months and beyond.
LeadingAge NY will continue to meet with state policymakers in the coming weeks to discuss these federal developments and fend off any cuts to long-term care and aging services. We encourage members to stay engaged with us in this process.
Contact: Sarah Daly, sdaly@leadingageny.org