Idaho Congressman Mike Simpson joined Republican colleagues on the House Budget Committee in sending a letter to Budget Committee Chairman John Spratt requesting a hearing with the Centers for Medicare and Medicaid Services (CMS) Chief Actuary. The Actuary recently released new information concerning the cost of the health care bill signed into law last month.
“This massive health care takeover will not save money nor create a better health care system,” said Simpson. “I cannot stress enough the damage that this bill will do. It will make our health care system weaker, not stronger, and it will damage our economy by adding more and more taxes that continue to stunt our economic growth. The public has the right to know what the true costs are of this legislation.”
This week, the Congressional Budget Office (CBO) released an analysis
that estimates large tax increases will hit millions of Americans making well below $200,000 annually.
CMS also issued its own analysis
demonstrating the new health care law will further drive costs upward, not downward, with national health expenditures increasing by an additional $311 billion above original projected costs. Additionally, the new law would adversely impact Medicare providers and reduce Medicare Advantage enrollees by 50%, according to the report.
“This is exactly why I and many of my Republican colleagues repeatedly asked Democrat leadership to slow down the process in Congress so we could find the real costs before passing the bill.” Simpson added, “Had these reports come out before the final vote, I believe the bill would not have passed.”