Oregon State Treasurer Steiner Urges US Senate to Reject “Financially Irresponsible” House Budget Reconciliation Bill

Oregon State Treasurer Elizabeth Steiner MD condemned the budget reconciliation bill that US House lawmakers passed last night and called on Senators to reject cuts to Medicaid, Medicare, food assistance, and clean energy incentives as the bill moves forward.

According to the Congressional Budget Office, the 2025 budget reconciliation bill, known as the “One Big Beautiful Bill Act,” would:

Add $3.8 trillion to the federal deficit by 2034.

Cut $698 billion from Medicaid which translates into $7 billion in cuts to the Oregon Health Plan (OHP). 1.4 million children and adults rely on OHP for their health coverage. Federal cuts to OHP would affect eligibility, benefits, and provider payments, beginning with a $1 billion estimated cut in the 2027-2029 biennium.

Cut $267 billion from the Supplemental Nutrition Assistance Program (SNAP). These cuts would result in $993 million in reductions per biennium for food assistance programs that nearly 800,000 Oregon families who are struggling to make ends meet rely on to put meals on the table.

According to the CBO, the House bill would cut income for the nation’s poorest families by 2% in 2027 (and 4% by 2033) and increase income for the wealthiest families by 2% in 2027 (and 4% by 2033).

The House bill would add $78 billion to state budgets.

Treasurer Steiner said:

"Late last night, the House passed a financially irresponsible budget bill that would explode the deficit, financially harm seniors and vulnerable families, and further destabilize the economy, which has been unsettled by chaotic trade wars.

According to Congress’ own nonpartisan fiscal analysts, House lawmakers would literally take health care and food away from hardworking families who are facing the most severe economic hardships to give more money to the wealthiest individuals who need it least. This unjust bill has already fueled more stock and bond market instability and has weakened the nation’s credit rating which means higher costs for all of us. It would make our air dirtier and our communities hotter, harming our health and stifling American companies from pursuing the innovation and profitable opportunities we all need for the future.

I urge cooler heads in the Senate to prevail and reject this rushed and reckless bill."