Healthcare Subsidies and Rescissions

Floor Speech

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Mr. OLSZEWSKI. Mr. Speaker, today marks 257 consecutive days that this Congress has failed to take meaningful action to address the cost- of-living crisis weighing heavily on struggling American families.

Regrettably, the President and Republican leadership have made life more difficult and less affordable for hardworking families across our Nation through chaotic trade policies and devastating cuts to healthcare and food programs.

The pending expiration of health insurance subsidies at the close of this year, in particular, threatens to impose a severe and unwarranted tax hike on the middle class.

Allowing these subsidies to lapse will cause out-of-pocket premiums for enrolled Americans to soar by an astounding 93 percent.

This drastic reduction in subsidies will also compel many healthy individuals to forgo insurance altogether, leaving a sicker population behind and forcing insurers to raise premiums across the board. As a result, even families who do not receive these subsidies will see their premiums increase by 18 percent.

This single policy shift would strip health coverage from more than 5 million Americans, adding to the 10 million projected to lose insurance due to President Trump's Medicaid cuts.

Those fortunate enough to retain their insurance will face a staggering cost increase. A family of four earning just $90,000 annually could see their premiums escalate by as much as 69 percent. That is an increase of over $3,000 per year, and that is crushing for a working family.

The expiration of these subsidies will also inflict substantial harm on entrepreneurs and small business owners. These are people who comprise roughly 30 percent of marketplace enrollees.

I am deeply concerned about the chilling effect this premium hike will have on business creation and job growth, both of which are already under significant strain in Trump's economy.

Democrats stand ready to work collaboratively with our Republican colleagues to fund the government in a bipartisan spirit. We are eager to negotiate in good faith on a responsible budget that delivers for all Americans.

Extending these vital tax subsidies is but one of many critical items on the table.

Let me be unequivocal on one other issue. No budget proposal that permits additional rescissions is worthy of any serious consideration. Any long-term budget should be shielded against further rescissions because we have already seen this administration's willingness to rescind funds approved in a bipartisan fashion by Congress, canceling support for foreign aid and public broadcasting programs that enjoy broad bipartisan backing.

The administration has also announced plans to exploit a little-known mechanism known as a pocket rescission to unilaterally cancel even more foreign aid.

Of deep concern to myself and Marylanders, President Trump has threatened to rescind funding that is vital to the reconstruction of the Francis Scott Key Bridge in Baltimore, a project critical not only to our local economy but to the Nation as a whole.

I urge my colleagues to insist that any budget we pass categorically reject any further illegal impoundments.

The power of the purse rests solely with Congress. If the President seeks to cut funding, he must do so through proper channels: by coming to Congress and requesting a lawful change.

Let's be sure to remember that in the days ahead.

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