Treasurer Steiner Addresses State Finances, Calls on the President and Congressional Leaders to Protect Health Care and End the Federal Government Shutdown

As the federal government shut down today, Oregon State Treasurer Elizabeth Steiner issued the following statement.

"Today, the federal government shut down after the federal administration and congressional Republicans failed to address staggering health care premium cost shocks and coverage reductions that will affect the health and financial well-being of hundreds of thousands of Oregonians and millions of Americans. I am disappointed that the Administration and Republican Senate and House leaders are willing to shut down the government rather than maintain affordable health coverage for Americans.

As Oregon braces for this federal government shutdown, I want to let Oregonians know that there should be minimal immediate disruption in state services due to Oregon's fiscal prudence and careful cash flow management. The finance staff at the Oregon State Treasury are monitoring the situation and working closely with Governor Kotek's office and the state's chief financial officer to manage the state's cash flow.

However, any prolonged disruption in federal services will be felt by nearly all Oregonians, whether you're a small business owner waiting for approval for a federal loan, you're having trouble with your VA benefits, you had a visit planned to Crater Lake National Park, or you're in need of other federal services that have been shut down. For thousands of Oregon's 30,000 federal workers who have been told to stay home and who are going without pay, this shutdown brings stress and uncertainty.

I urge the Administration and congressional Republican leaders to reverse funding cuts to Medicaid and the Affordable Care Act."

The Republican budget law Congress passed earlier this year will increase health care out of pocket costs and add to the financial strain many families and small business owners in Oregon are facing.

By failing to extend the Affordable Care Act's (ACA) enhanced tax credits, over 100,000 Oregonians will be hit with staggering premium increases on January 1, 2026.

For example: A married couple, aged 60 and 64, who live in Hermiston - a city in Eastern Oregon - who have a combined income of $95,000 per year, will see their silver plan premiums jump from $8,000 per year to $33,500 per year, a $25,000 increase. (Based on data from the Oregon Health Authority).

Cuts to Medicaid are likely to end health coverage for more than 200,000 people and could cost Oregon more than $1 billion per year.