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Concurrent Resolution on the Budget, Fiscal Year 2016

Floor Speech

By: Tim Scott
By: Tim Scott
Date: March 26, 2015
Location: Washington, DC
Issues: Health Insurance Government Budget and Spending

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Mr. SCOTT. Mr. President, I ask unanimous consent to set aside the pending amendment in order to call up the Scott amendment No. 692 in regard to transparency in health insurance costs.

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Mr. SCOTT. Mr. President, my amendment is a very simple amendment. It simply seeks to make sure insurance companies increase the transparency on the actual cost of the health insurance tax on monthly premiums.

The bottom line is this: When a single mom goes to the grocery store and she gets her receipt, at the bottom of the receipt it reflects the taxes she has paid. When a father of three buys clothes, at the end of his receipt it reflects the taxes that are being paid.

By the year 2018, this invisible tax not seen by the average insurance purchaser will have raised about $14.3 billion in costs because of this health insurance tax. My amendment makes it easier to understand and appreciate the actual cost of the health insurance tax.

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