What would the economic impact of repeal be on jobs and GDP?
A study by Laurel Lucia and Ken Jacobs at the University of California, Berkeley found that repeal of the ACA could result in the loss to California of approximately $20.5 billion in annual federal funding for the Medi-Cal expansion and Covered California subsidies. This translates into a loss of approximately 209,000 jobs in California, the majority in the healthcare industry, but many jobs would also be lost in the food service, insurance, employment services, janitorial, accounting, transportation, restaurant, retail, and local business sectors. California would also lose over $20 billion in total gross domestic product.
If the ACA is repealed, Alameda County will face:
- 6,000 jobs lost, and
- $603 million in lost gross domestic product.