Repeal of Obamacare Act

Floor Speech

By:  Jack Kingston
Date: July 10, 2012
Location: Washington, DC

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Mr. KINGSTON. Madam Speaker, there are five quick reasons why I think this bill should be repealed:

Number one, it does not decrease the cost of health care. In fact, it is estimated that it will increase costs by 13 percent per family and is already moving toward a $2,100 increase.

Number two, the loss of health care. The nonpartisan Congressional Budget Office estimates that 20 million people will lose their employer-based health insurance because of the mandates in ObamaCare.

Number three, it interferes with the patient-doctor relationship. The law creates 159 new boards, offices, and panels within the Federal Government to be in charge of people's health care decisions.

Number four, increased government spending at a time where we borrow 40 cents on every dollar we spend and our national debt is 100 percent of the GDP. ObamaCare is expected to cost over $1.8 trillion over the next decade. We don't have the money.

Number five, loss of jobs. The nonpartisan Congressional Budget Office estimates that nearly 800,000 jobs will be lost because of ObamaCare.

Madam Speaker, we need to repeal ObamaCare and replace it with the best ideas of Republicans and Democrats, which should include expanded health savings accounts, ending frivolous lawsuits, association health plans, across-State-line health care purchases, and State-run high-risk pools. These ideas will bring America together rather than divide us as a country over this very important issue.

Madam Speaker, following are my remarks in their entirety:

Rising Health Care Costs--Under the Patient Protection and Affordable Care Act (PPACA), CBO projects health insurance premiums will increase by $2,100 per family.

By 2016, health insurance premiums for individuals and families will increase by 13%.

Loss of Health Care Coverage--CBO estimates 20 million people could lose their employer-based health insurance because of the mandates imposed by PPACA.

According to HHS's own assumptions, as high as 80% of small businesses and 64% of large businesses will discontinue offering health insurance to its employees.

According to a survey by House Ways and Means, 71 of the nation's largest employers could save more than $28 billion in 2014 alone and $422.4 billion over a decade, by deciding to drop health insurance coverage for their 10.2 million employees and dependents and paying the $2,000 per-employee penalty instead.

Some colleges have already begun dropping student health insurance plans for the coming academic year and others are warning students of premium increases because of a provision in the Obamacare requiring plans to expand their coverage benefits.

For example, Bethany College in Kansas is cancelling its health insurance plan for students rather than face a premium increase of over 350 percent, causing the plans to increase from $445 per year to more than $2,000 per year.

A mandate in Obamacare requires all child-only health insurance carriers to guaranty issue plans, which allows individuals to purchase health insurance on the way to the emergency room. As a result, 17 states including Georgia no longer offer new child-only health insurance policies.

Interference with Patient-Doctor Relationship--PPACA creates the Independent Payment Advisory Board (IPAB) consisting of 15 bureaucrats responsible for making spending and coverage decisions for Medicare.

CBO projects IPAB will have a marginal effect on reducing Medicare spending.

The law does create 159 new boards, offices and panels within the federal government in charge of making decisions for people's health care.

Increased Government Spending--PPACA is expected to cost $1.8 trillion over the next decade, which is nearly double the original estimate.

Total federal spending on health care will increase from 5.4 percent of GDP this year to 10.7 percent of GDP in 2037 and 18.3% by 2087.

Loss of Jobs--The CBO estimates nearly 800,000 jobs will be lost because of passages of PPACA. This is because of the law's misguided incentives that increase the marginal tax rates discouraging work and labor supply.

According to a survey by the U.S. Chamber of Commerce, 74 percent of small businesses stated PPACA makes it harder for firms to hire new workers.

The same survey found 30% of the businesses surveyed are not hiring at all thanks to PPACA.

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