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The health care bill approved by House Republicans this week with the support of President Donald Trump will aid the wealthiest Americans at the expense of everyone else and likely drive up the budget deficit, billionaire Warren Buffett said. "It is a huge tax cut for guys like me,” Buffett said Saturday at the annual meeting of his Berkshire Hathaway Inc. in Omaha, Nebraska. “And when there’s a tax cut, either the deficit goes up or they get the taxes from somebody else.” (Buhayar and Chiglinsky, 5/6)

"That is in the law that was passed a couple days ago," he added. "Anybody with $250,000 a year of adjusted gross income and a lot of investment income is going to have a huge tax cut." (Arnold, 5/6)

Buffett said healthcare costs have risen much faster in the United States than in the rest of the world and "will go up a lot more." "Medical costs are the tapeworm of American economic competitiveness," he said. "That is a problem this society is having trouble with and is going to have more trouble with." (Hunnicutt, 5/7)