Report: Bush plan threatens jobs

SPRINGFIELD – Illinois stands to lose thousands of jobs and more than $1 billion in business if the Bush administration succeeds in cutting a big chunk of federal Medicaid funding from each state, according to a new report released Wednesday.

Research done by Families USA, a national health care consumers organization, found Illinois would lose nearly $488 million in federal Medicaid funding the first year and $2.5 billion over five years if proposed changes in Medicaid regulations take effect.

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