U.S. Senate Select Committee on Intelligence Vice Chairman Marco Rubio (R-FL) delivered closing remarks at a hearing on foreign threats to the 2024 elections. “I just know that this is going to get far more complex, and I predict it won't just be about elections, it...
U.S. Senate Select Committee on Intelligence Vice Chairman Marco Rubio (R-FL) questioned Director of National Intelligence Avril Haines at a hearing on foreign threats to the 2024 elections. Witnesses: Avril Haines, Director of National Intelligence Click here...
U.S. Senate Select Committee on Intelligence Vice Chairman Marco Rubio (R-FL) delivered opening remarks at a hearing on foreign threats to the 2024 elections. “I think in the years to come, we’re going to see more and more nation-states and maybe non-state actors...
It’s in our national security interest to stand by democratic allies in our hemisphere. Today, Paraguay and the United States continue to advance the security, stability, and economic prosperity in our region. U.S. Senators Marco Rubio (R-FL), Ben Cardin (D-MD), and...
Es de interés para nuestra seguridad nacional mantener una postura firme junto a nuestros aliados democráticos en nuestro hemisferio. Hoy, EE.UU. y Paraguay siguen avanzando en temas de seguridad, al igual que sobre la estabilidad y prosperidad económica de nuestra...
President Biden is increasing tariffs on imported Chinese electric vehicles (EVs), with no comparable tariff increase on Chinese internal combustion engine vehicles. This misguided half-solution, rooted in President Biden’s radical climate agenda, ignores the true...
Washington, D.C. – U.S. Senator Marco Rubio (R-FL) today introduced The ObamaCare Taxpayer Bailout Prevention Act, a bill that would eliminate a provision of ObamaCare that allows for taxpayer-funded bailouts of insurance companies at the Obama Administration’s sole discretion. This is the first piece of legislation introduced by Rubio in the 114th Congress.
The bill would repeal section 1342 of ObamaCare, which establishes a risk corridor program to distribute money from exchange plans that earned profits to exchange plans that suffered losses. However, the risk corridor program was not designed to be budget neutral, and section 1342 of ObamaCare puts the American taxpayer at risk of a taxpayer bailout if insurers systematically lose money on exchange plans. By repealing Section 1342, the legislation would force the administration to come back to Congress to request appropriations to cover any losses in the program.
“One of the biggest threats to the American Dream is the rising cost of living, which ObamaCare is making worse through rising health care costs and loss of coverage,” said Rubio. “Taxpayers should not have to fund massive bailouts to protect the profits of the insurance companies that helped write Obamacare, which is why I’ve been fighting for over a year to protect taxpayers from yet another bailout that puts them on the hook for Washington’s mistakes.
“Under December’s omnibus spending bill, taxpayers are protected from bailing out insurance companies until September 30, but now Congress has the opportunity to take the possibility of a bailout off the table for good,” added Rubio. “By passing this bill, Congress will ensure that no bailout will occur, in 2016 or ever.”
The ObamaCare Taxpayer Bailout Prevention Act is co-sponsored by Senators Jeff Flake (R-AZ), Jim Inhofe (R-OK), Mike Lee (R-UT), John McCain (R-AZ), Rand Paul (R-KY), Pat Roberts (R-KS), Mike Rounds (R-SD) and David Vitter (R-LA).
Companion legislation was introduced in the House today by U.S. Representative Andy Harris (R-MD).
“The American people should not have to shoulder the burden of the President’s failed health care plan and bailout insurance companies, while millions across the country have lost their coverage and seen increased health care costs. President Obama continues to sit back and force taxpayers to foot the bill for a law that is crippling the economy, killing jobs, and weakening health care in the United States,” said Dr. Harris. “Section 1342 is just another example of presidential overreach and the President’s complete disregard for the Constitution. Its repeal will protect taxpayers from future costs brought on by his disastrous law.”
The legislation is also endorsed by the following policy advocacy groups: American Conservative Union, Americans for Prosperity, Americans for Tax Reform, Campaign for Liberty, Center for Freedom and Prosperity, Council for Citizens Against Government Waste, Club for Growth, Freedom Works, Heritage Action, HSA Coalition, National Taxpayers Union, Tea Party Express and the 2017 Project.