WASHINGTON, D.C. – Interim House Budget Committee Chairman Diane Black of Tennessee issued the following statement after CBO released its Budget and Economic Outlook. CBO projects deficits of $9.4 trillion over the next decade, the national debt to rise to $24.9 trillion by 2027, and for economic growth to average only 1.9 percent over the next decade.”
“Today’s report from the CBO is former President Obama’s legacy of an unsustainable national debt and an economy that’s leaving too many people behind. Thankfully, we have new leadership in the White House, and Republicans in Congress are preparing pro-growth legislation that will get our economy moving at full steam again and tackle our fiscal problems head on. It’s time to reject the failed policies of the past, and as interim chairman of the House Budget Committee, I’m ready to work with my colleagues to achieve our goals of strong economic growth and being good stewards of taxpayer dollars.”
House Budget Committee Interim Chairman Diane Black (TN-06) issued the following statement today applauding House passage of S. Con. Res. 3 – a budget resolution to trigger the reconciliation process to repeal Obamacare:
“Today Congress took a critical step toward repealing a law that is harming the American people. We are fulfilling our promise to provide relief from Obamacare’s failures. Now begins a process through which we will ultimately be able to achieve patient-centered solutions to expand access to care, promote quality and innovation, lower costs, and give the American people greater power over their own health care decisions.”
The United States has the best doctors, nurses, and providers in the world and has long been a pioneer in discovering new cures. Unfortunately, Obamacare’s rules and regulations are diminishing quality and stifling innovation throughout the health care sector. Patients no longer believe they are receiving the best care possible. U.S. consumers are no longer the first to benefit from new therapies and technologies.
While the United States has served as the center of medical technology innovation, the global landscape is changing as innovators invest in Europe and emerging countries. Repealing Obamacare will knock down government obstacles that are standing in the way of better care for patients and will unleash a new wave of medical discovery.
· According to a 2016 patient survey, the most important thing to patients is a personal health care experience with their preferred provider that does not require the patient to be rushed through their exams.
· High quality, personalized care has been diminished by the Affordable Care Act. In fact, 25% of people report that Obamacare has personally hurt them.
· In a recent survey of physicians on their impressions of the ACA, over 60% of physicians responded that the ACA has had a negative impact on the quality of care patients receive nationwide.
· Investments in medical innovation, which drive personalized medicine, have also decreased since 2010. Obamacare imposed over $500 billion in new taxes that stifle innovation and capital investment.
· Today, developing new drugs costs over $2.5 billion and takes an average of 14 years – costs that are passed on to patients in the form of higher prices and reduced access to treatments.
· Obamacare’s medical device tax has contributed to discouraging investment in medical technology. For example, venture capital investment is down for all stages of development – early, growth, and later stages – since 2009.Read More
As a result of Obamacare’s poor design, the law’s insurance exchanges are collapsing and many health insurance companies are pulling out of the market. That’s bad news for patients who now have fewer choices when it comes to picking a health care plan that’s best for them and their families. This lack of competition is making health care more expensive and less available for too many Americans.
It’s time to repeal Obamacare, give patients more choices, and increase competition to make coverage more affordable.
● Many of the nation’s largest insurance providers have been forced to withdraw from the Obamacare marketplace after losing billions of dollars, due to insurance regulations that distort the market, apply undue one-size-fits-all requirements, drive up costs, and deter people from purchasing plans.
● With such significant losses, insurers either have had to scale back their presence on the ACA’s exchanges or hike premiums to help make up lost revenue. Neither option is a good thing for Americans seeking health insurance.
● A number of insurers have decided to pull back from the marketplace completely, leaving many Americans with only one option from which to buy insurance:
- In 2016, there were 225 counties across the country that only had one insurer offering coverage, and that number has grown to 1,022 counties for 2017.
- In 2017, five states – Alabama, Alaska, Oklahoma, South Carolina, and Wyoming – will have only one insurance provider, as will large sections of Florida, Utah, and Missouri.
- Arizona’s Pinal County, where 10,000 individuals had signed up for an exchange plan in 2016, was without a single exchange option until a 51 percent premium hike was approved for Blue Cross Blue Shield of Arizona – the result of a total absence of competition.Read More
Section 310 of the Congressional Budget Act of 1974 sets out a special procedure that allows Congress to direct one or more authorizing committees to produce legislation that changes direct spending, revenue, or the debt limit to bring these levels into compliance with budget resolution policies. Reconciliation directives must be included in a concurrent resolution on the budget adopted by both Houses to be valid.
In general, reconciliation directives include:
· the amount of budgetary change to be achieved;
· the time period over which such budgetary change should be measured; and
· a deadline by which the authorizing committees must report legislation.
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