Congressman Canseco's Statement on the CLASS Act
FOR IMMEDIATE RELEASE
October 13th, 2011
Contact: Valentina Weis
(202) 225-4511 or Valentina.Weis@mail.house.gov
Congressman Canseco's Statement on the CLASS Act
“Recently, the Obama Administration made the decision to abandon implementation of the CLASS Act, which is a long-term care insurance program that was created by President Obama's health care law. At the time the health care law was being debated, many pointed out the fiscal lunacy and unsustainability of creating such a program. In fact, Senate Budget Committee Chairman Kent Conrad, a Democrat from North Dakota, called the program a "Ponzi scheme."
From the beginning, it was clear the CLASS Act was going to be a fiscal boondoggle at best. However, because of accounting gimmicks and faulty assumptions included in the health care law, the Administration was able to claim that inclusion of this long term care insurance program in Obamacare would produce budget “savings” of $86 billion over 10 years. However, the Obama Administration recently admitted it the program was unworkable and decided to scrap the program, and the Congressional Budget Office has now decided that the program will not save taxpayers one dime.
I don’t expect the news about President Obama's health care law to get any better in the coming months. The more the American people learn about this law, the bigger a boondoggle it becomes. Back in January, the House of Representatives voted to repeal this monstrous bill, which is directly inhibiting the ability of our economy to grow and create jobs. In fact, the health care law is one of the most frequently citied reasons for our current economic state when I talk to small business owners throughout the 23rd District of Texas. They tell me that the various regulations, mandates, and taxes that this law requires leaves them uncertain about the future and their ability to be successful. How is a small business in America supposed to plan and hire workers with all of this uncertainty? That is a question the Obama Administration doesn’t have an answer to. I will continue fighting to repeal President Obama's health care law until it is finally lifted off the shoulders of American businesses and families.”
Congressman Canseco has cosponsored legislation to repeal the health care law in its entirety (H.R. 2) and to repeal the CLASS Act (H.R. 1173).
To schedule an interview please contact Valentina Weis at (202) 225-4511 or Valentina.Weis@mail.house.gov
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