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Public Statements

Repeal of Obamacare Act

Floor Speech

By:
Date:
Location: Washington, DC

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Mr. MARCHANT. Madam Speaker, the Supreme Court ruled that the individual mandate was Constitutional. But the cost of the Patient Protection and Affordable Care Act, or ``Obamacare'', remains grievously unsustainable. Unless Obamacare is repealed, either in whole or in part, America's healthcare system will prove to be a ticking fiscal time bomb.

Regardless of the Obama plan, healthcare payment rates across Medicare, Medicaid, and private insurance are alarming. According to the Congressional Budget Office, between 1975 and 2005, annual per-person health spending in the United States rose, on average, 2 percentage points faster than per-person economic growth. In other words, healthcare costs have outpaced our national income.

Now add Obamacare: massive new entitlements, additional dependence on government, tax hikes, bureaucratic micromanagement of healthcare, and the possibility of Congress taxing other forms of inactivity in the future. In 2014, Obamacare will significantly expand Medicaid to childless adults with incomes up to 138 percent of the poverty level. If states don't expand Medicaid, 11.5 million very poor adults will be on their own. That is more than the entire population of Greece.

Americans that fail to follow the healthcare mandate will be required to pay a penalty, or an Obamatax, starting in 2014. When fully phased in two years later, the penalty will be $695 for each uninsured adult or 2.5 percent of family income, whichever is greater, up to $12,500.

Madam Speaker, America is facing a genuine healthcare crisis. But our country also has 13 million unemployed and millions of others are struggling. They simply can't afford a new tax imposed by Washington. There is a way to improve both our healthcare system and fiscal outlook, and it starts by repealing Obamacare.

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