Business
Harris-Walz and U.S. health care: What could that look like?
Kamala Harris has chosen a running mate. The vice president and Democratic presidential nominee announced Tuesday that she’s selected Minnesota governor Tim Walz for her 2024 ticket.
“As a governor, a coach, a teacher, and a veteran, he’s delivered for working families like his,” Harris wrote on X, formerly Twitter. “It’s great to have him on the team.”
Now that the Democratic ticket is locked up, plenty are wondering about what a Harris-Walz win could mean for the country going forward. A May 2024 poll by the Pew Research Center found that health care is a major concern for voters going into this election, with questions about what Harris and Walz would potentially change across a range of health care issues in the country. Harris’ campaign is still in the early stages, and she hasn’t spoken out about her all her views on the topic just yet. But her history with several areas of health care suggests her stance on a range of topics.
Health policy experts stress that a lot of what Harris and Walz could do in office largely depends on what happens in Congress. “This is still a divided country,” says Leighton Ku, PhD, MPH., director of the Center for Health Policy Research at George Washington University’s Milken Institute School of Public Health. “I don’t think Harris would be likely to have control of both houses of Congress, but all sorts of things can happen.”
“No matter who the president is, reforming health care in the United States is a tall order given the power and lobbying abilities of the health insurance companies,” says Perry N. Halkitis, Ph.D., dean of the Rutgers School of Public Health.
Here’s what health policy researchers and a doctor anticipate may change if Harris and Walz take the election in November.
Reproductive rights will become a focus
Harris has repeatedly been vocal about her support for reproductive-care access. In December, she launched a Reproductive Freedoms Tour for which she hosted events to highlight the fallout of abortion bans and shared the stories of people who were impacted by strict legislation around reproductive rights in their states.
“Extremists across our country continue to wage a full-on attack against hard-won, hard-fought freedoms as they push their radical policies—from banning abortion in all 50 states and criminalizing doctors, to forcing women to travel out of state in order to get the care they need,” she said in a statement at the time. “I will continue to fight for our fundamental freedoms while bringing together those throughout America who agree that every woman should have the right to make decisions about her own body—not the government.”
In March, Harris also made what is believed to be the first official visit to an abortion clinic by a sitting president or vice president. During that visit, she called abortion access a “very serious health crisis facing women,” per NPR.
“Harris is a longtime supporter of abortion rights, while Trump touts his appointments to the Supreme Court that resulted in Roe v. Wade getting overturned,” Larry Levitt, executive vice president for Health Policy at KFF, tells Fortune.
Walz also has a history of supporting access to abortion care. In 2023, he signed several bills into law to protect people who sought or provided abortions in Minnesota. “Today, we’re protecting the rights of Minnesotans and making sure our state remains a place where people have the freedom to get the care they need to live their fullest lives,” he said in a statement at the time. “We’re putting up a firewall to ensure Minnesotans have the freedom to make their own healthcare decisions.”
But Levitt says that a Harris-Walz administration is likely to be limited in what it can achieve. “How much either Harris or Trump could do to affect abortion access would depend a lot on who controls Congress, but there are executive actions they could take to shift policy to some extent,” he says.
Ku agrees. “She may have some room to do more in terms of executive actions or really trying to pursue legal actions to sue states that try to further restrict abortion access,” he tells Fortune. Harris could continue to push a requirement on hospitals to provide abortions in emergencies where a woman’s health is at stake, even in states where abortion is banned, Levitt says.
Ultimately, Ku says that Harris is likely to have the biggest impact on reproductive rights if she’s able to put a new judge or two in the Supreme Court. “If she is elected president, I would expect that she would have the opportunity to name one or two Supreme Court justices over her term,” he says. “That leads to the possibility of potentially changing the Court.”
Health care may become more accessible and affordable
Still, policies on this are vague at the moment. “Harris supported Medicare for All in the past, offering a proposal in 2019 that would have extended Medicare to everyone gradually with an option to enroll in a private insurance plan,” Levitt says. “Harris’ previous support for Medicare for all is indicative of her desire to achieve universal coverage, but I don’t expect her to push it on the campaign trail or if she wins the presidency.”
Walz has also stressed the importance of healthcare access. “What Minnesotans want from their health care is simple,” Walz said during his 2019 inaugural speech. “They don’t want to get sick in the first place. But if they do, they want care at a price they can afford and at a location close to home.”
Levitt says he’d expect the administration to focus more on making the Affordable Care Act—also called Obamacare—coverage more affordable.
Ku agrees that it’s unlikely that Harris would put Medicare for All on the front burner right now. “She continues to be in favor of Medicaid expansions and to keep the Affordable Care Act marketplace strong,” he says.
There may be more price caps on select medications
Levitt points out that Harris has campaigned on the Biden-Harris administration’s political victory over the pharmaceutical industry that gave the government authority to negotiate drug prices in Medicare for the first time, including capping insulin copays at $35 per month. “She has indicated she wants to take these drug cost relief measures further,” Levitt says.
“I assume that she will continue to pursue this,” Ku says. However, he points out that “some of this is tied up in courts.”
Walz also has a history of working to help constituents afford their medication. In 2020, he signed a bill into law that would help Minnesotans afford their insulin. “Minnesotans should not die because they are forced to choose between putting food on the table and affording the drug they need to survive,” he said in a statement at the time. “Despite resistance from the pharmaceutical industry, the grit and determination of Minnesotans with diabetes, Minnesotans who have lost loved ones with diabetes, and their legislators moved this bill forward. It is downright inspiring. This hard-fought law will provide much-needed relief to Minnesotans struggling to afford their insulin. We must continue to put Minnesotans first and ensure people don’t struggle to afford the care they need.”
Mariana Socal, PhD, an associate professor in the Department of Health Policy and Management at the Johns Hopkins Bloomberg School of Public Health, expects that this will be a “key issue” for the Harris-Walz campaign. “Having prescription drug affordability front and center and building on the accomplishments that Vice President Harris had during the Biden Administration will probably be highlighted even more,” she tells Fortune. “There would be a stronger ground for drug pricing affordability.”
Health care consolidation may be limited
Harris was previously California’s attorney general, and she actively fought against health industry consolidation—situations where hospitals and other similar health-related companies merge—during her tenure, according to Politico. The driving reason was concern that prices would increase.
A Harris-Walz administration could also try to fight private equity ownership in health care systems, Ku says. “Private equity makes investments because there is money to be made there,” he says. “But the quality of care may deteriorate somewhat when private equity is involved.”
Harris hasn’t said much publicly on the topic, but Ku anticipates that she will with time. “That’s the kind of thing I think a Harris administration might be interested in,” he says.
There may be more funds for nursing home care
Ku points out that the height of the pandemic revealed a lot of issues with nursing homes in the U.S. “Nursing homes are still struggling,” he says. “They are having great difficulty getting quality staff.” Under the Biden-Harris administration, the Department of Health and Human Services issued new staffing requirements in nursing homes, Ku notes.
Walz, too, has a history of trying to support nursing care. In August 2023, he helped bring $173 million in funding to support nursing care for Minnesotans. “This session, we worked across the aisle to prioritize the needs of middle class families and seniors. We’re providing direct support to nursing homes across the state to ensure Minnesota’s seniors have the quality care and safe environments they deserve,” he said in a statement. “By funding nursing homes and investing in workforce incentives, we’re working to ensure our seniors have access to high-quality care while bringing new workers into this critical profession and building the workforce of the future.”
Also in April, Harris announced rulings to improve access to long-term care, as well as the quality of caregiving jobs. “A lot of people said, ‘Great, but how are we going to pay for this?’” Ku says, suggesting that a Harris-Walz administration might try to increase funding for nursing homes—something that would be popular given that Baby Boomers are an aging population. “I would expect that we will see this come up,” he says.
Overall, experts stress that there’s a lot to still be revealed about what the Harris-Walz duo would do for healthcare if elected. “The campaign is still so new,” Ku says. “But it’s important to remember that what happens with Congress and the current Supreme Court are limiting factors in what change can take place.”
Business
All the market-moving Wall Street chatter from Monday
Business
Boeing staff get 25% pay hike in deal to avoid strike
Boeing is offering its staff a 25% pay bump over a four-year contract, in a bid to avoid a strike that could potentially shut down its assembly lines as early as Friday.
Union leaders representing more than 30,000 employees have urged the workers to support the proposal, describing it as the best contract they had ever negotiated.
If approved the agreement would be an important achievement for Boeing’s new chief executive, Kelly Ortberg, who faces pressure to fix the company’s quality and reputational issues.
Boeing workers in the Seattle and Portland region are set to vote on the deal on Thursday. A strike can still happen if two thirds of union members support it in a separate vote.
In a video message to Boeing workers, the aerospace giant’s chief operating officer, Stephanie Pope, described the proposal as a “historic offer”.
If ratified by union members, it would be the first full labour agreement between the firm and the unions in 16 years.
Although the tentative deal did not match the union’s initial target of a 40% pay rise, negotiators still praised it and advised members to accept it.
“We can honestly say that this proposal is the best contract we’ve negotiated in our history,” said a statement from the International Association of Machinists and Aerospace Workers (IAM).
Aside from the pay bump, the deal offers workers improved healthcare and retirement benefits and a commitment by Boeing to build its next commercial airplane in the Seattle area.
It also gives the union members more say on safety and quality isues.
“Financially, the company finds itself in a tough position due to many self-inflicted missteps. It is IAM members who will bring this company back on track,” the negotiators said, referring to the crises faced by Boeing in recent years.
Mr Ortberg, an aerospace industry veteran and engineer, took over as Boeing’s new chief executive last month.
His appointment came as the firm reported deepening financial losses and continued to struggle to repair its reputation following recent in-flight incidents and two fatal accidents five years ago.
Business
Asia shares slip, China inflation surprisingly soft By Reuters
By Wayne Cole
SYDNEY (Reuters) – Asian share markets slid on Monday after worries about a possible U.S. economic downturn slugged Wall Street, while dragging bond yields and commodity prices lower as investors avoided risk assets for safer harbours.
bore the brunt of the early selling as a stronger yen pressured exporters, losing 2.4% on top of a near 6% slide last week.
MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.6%, after losing 2.25% last week.
and Nasdaq futures were both a fraction lower, after Friday’s slide.
Fed fund futures were little changed as investors wondered whether the mixed U.S. August payrolls report would be enough to tip the Federal Reserve into cutting rates by an outsized 50 basis points when it meets next week.
So far, markets imply only a 29% chance of a large cut, in part due to comments from Fed Governor Christopher Waller and New York Fed President John Williams on Friday, though Waller did leave open the option of aggressive easing.
“Our read of the data is that the labour market continues to cool, but we see no sign of the kind of rapid deterioration in conditions that would call for a 50bp rate cut,” Barclays economist Christian Keller said.
“Importantly, we also see no indication of any appetite for this in Fed communications,” he added. “We retain our call for the Fed to begin its cycle with a 25bp cut, followed by two more 25bp at the remaining two meetings this year, and a total of 75bp of cuts next year.”
Investors are considerably more dovish and have priced in 115 basis points of easing by Christmas and another 127 basis points for 2025.
Data on August U.S. consumer prices on Wednesday should underline the case for a cut, if not the size, with headline inflation seen slowing to 2.6% from 2.9%.
ECB TO EASE
Markets are also fully priced for a quarter-point cut from the European Central Bank on Thursday, but are less sure on whether it will ease in both October and December.
“What matters will be guidance beyond September, where there’s strong pressure on both sides,” analysts at TD Securities noted in a note.
“Wage growth and services inflation remain strong, emboldening the hawks, while growth indicators are flagging softer, emboldening the doves,” they added. “Quarterly cuts are likely more consistent with the new projections.”
The prospect of global policy easing boosted bonds, with 10-year Treasury yields hitting 15-month lows and two-year yields the lowest since March 2023.
The 10-year was last at 3.734% and the two at 3.661%, leaving the curve near its steepest since mid-2022.
The drop in yields encouraged a further unwinding of yen carry trades which saw the dollar sink as deep as 141.75 yen on Friday before steadying at 142.41 early on Monday.
The euro held at $1.1090, having briefly been as high as $1.1155 on Friday. [USD/]
Data on consumer prices (CPI) from China due later Monday are expected to show the Asian giant remains a force for disinflation, with producer prices seen falling an annual 1.4% in August.
The CPI is forecast to edge up to 0.7% for the year, from 0.5%, mainly due to rising food prices.
Figures on China’s trade account due Tuesday are expected to show a slowdown in both export and import growth.
Also on Tuesday, Democrat Kamala Harris and Republican Donald Trump debate for the first time ahead of the presidential election on Nov. 5.
In commodity markets, the slide in bond yields kept gold restrained at $2,496 an ounce and short of its recent all-time top of $2.531. [GOL/]
Oil prices found some support after suffering their biggest weekly fall in 11 months last week amid persistent concerns about global demand. [O/R]
added 57 cents to $71.63 a barrel, while firmed 60 cents to $68.27 per barrel.
-
African History5 years ago
A Closer Look: Afro-Mexicans 🇲🇽
-
African History8 months ago
Black History Facts I had to Learn on My Own pt.6 📜
-
African History5 years ago
A Closer Look: Afro-Mexicans 🇲🇽
-
African History1 year ago
Major African Tribes taken away during the Atlantic Slave Trade🌍 #slavetrade #africanamericanhistory
-
African History1 year ago
Cameroon 🇨🇲 World Cup History (1962-2022) #football #realmadrid #shorts
-
African History1 year ago
What did Columbus Find in 1493? 🤯🔥🔥 #history #civilization #mesoamerica #africa #kemet
-
African History7 months ago
Black History Inventors: Mary Kenner 🩸
-
African History1 year ago
Origin Of ‘Cameroon’ 🇨🇲😳#africa