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Millions of Americans are bracing for soaring health care costs after the US Senate on Thursday rejected rival Republican and Democratic plans to avert the expiry of key insurance subsidies -- a fight set to dominate next year's midterm elections.

US President Donald Trump insisted Tuesday that prices were falling "tremendously" for Americans in a rambling campaign-style rally that was meant to address mounting anger over the cost of living.

Donald Trump may have dismissed US cost of living issues as a "hoax," but his most loyal supporters are feeling the pinch -- even if they still back the president to fix the problem.

Donald Trump will travel to Pennsylvania next week to talk up his economic agenda, the White House said Thursday, as the US president faces growing pressure over an affordability crisis that he dismisses as a "hoax."