NEW REPORT: Thanks to Tom Kean Jr., “NJ Stands to Lose $19B in Health Care Spending”

Kean Jr. cast the deciding vote for the largest cuts to Medicaid in history

New reporting in the Bergen Record highlights just how devastating Tom Kean Jr.’s Tax Scam would be for his New Jersey constituents.

Because of Kean Jr.’s deciding vote, New Jersey “stands to lose $19B in health care spending,” and NJ hospitals would “take a hit of $6.9 billion in lost revenue.” The report makes clear that all New Jerseyans would face the effects of Kean Jr.’s vote: both those who rely on Medicaid and those who have private health insurance will be impacted by the cuts to NJ’s hospitals and health care sector.

Read more about the devastating impacts of Kean Jr.’s vote below:

Bergen Record: NJ stands to lose $19B in health care spending from Trump’s ‘big, beautiful bill’
By Scott Fallon | June 19, 2025

• New Jersey’s $53 billion health care sector has been growing at such a rapid rate over the past three decades that it has become one of the state’s biggest economic engines. But like any engine, this one is prone to stall if there’s problem with the fuel.
• New Jersey is poised to lose $19.2 billion over the next nine years in health care spending from the controversial House budget bill that includes steep cuts to both Medicaid and subsidies that discount insurance premiums under the Affordable Care Act, according to an analysis issued this week.
• The proposed $1 trillion in health care cuts in the measure dubbed by President Donald Trump as a “big, beautiful bill” would also take another $5 billion out of New Jersey’s economy in uncompensated care for the newly uninsured, the national report by New Jersey-based Robert Wood Johnson Foundation and the Urban Institute said.
• New Jersey would be hit the 14th hardest among states in overall health care spending cuts.
• The total impact of the cuts has been difficult to gauge and state government and nonprofit groups have offered different estimates. While Robert Wood Johnson put the loss at roughly $2.1 billion a year, the state Department of Human Services, which administers Medicaid, said New Jersey would lose $3.6 billion annually.
• “The Medicaid cuts Congress is considering would be the largest funding reduction in the program’s history, and it is hard to overstate just how devastating the impacts would be,” said Katherine Hempstead, a senior policy adviser at the Robert Wood Johnson Foundation.
• But the cuts apply to more than just Medicaid. There would be a significant increase to insurance premiums purchased under Get Covered New Jersey, the state’s Affordable Care Act marketplace used by more than 500,000 residents who don’t get their medical coverage through an employer.
• Under the House bill, New Jersey would lose more than $500 million in special tax credits that would affect more than 450,000 residents, many of whom would see their premiums doubled, according to the state Department of Banking and Insurance. That represents about 88% of those enrolled.
• Health care employment has grown every year since 1990, and its more than 600,000 workers represent 13% of the state’s total work force.
• The biggest sector impacted by the bill would be hospitals, especially those that serve low-income areas. They would take a hit of $6.9 billion in lost revenue over a nine-year period in addition to $1.5 billion that they are expected to provide in charity care.
• New Jersey Hospitals Association CEO Cathy Bennett said the report’s figures are conservative and the cuts would have “far-reaching impacts.”
• “These cuts will have a grave impact on the most vulnerable — seniors, veterans, people with disabilities, pregnant women, children and low-income working families,” she said in a statement to NorthJersey.com. “The effects will reach even deeper — threatening local economies, jobs and hospital services that people depend on in their 18 million patient visits each year.”

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