Washington, D.C. – U.S. Senator Marco Rubio (R-FL) and Congressman Tim Griffin (R-AR) today welcomed new signs of growing momentum against a taxpayer-funded bailout of health insurance companies under ObamaCare. In a recent letter to Rubio and Griffin, 33 national groups and leaders, representing the views of millions of Americans, formed a coalition in support of legislation to eliminate ObamaCare risk corridor payments.
There are currently 13 Senate co-sponsors of S.1726, The ObamaCare Taxpayer Bailout Prevention Act. In the House, H.R. 3541 currently has 54 co-sponsors.
“As awareness grows about the likelihood of a taxpayer-funded bailout of health insurers under ObamaCare, this possibility will be taken off the table,” said Rubio and Griffin in a joint statement. “The American people are tired of paying for Washington’s mistakes and tired of politicians who leave them and future generations with the bill. If ObamaCare can’t survive without a taxpayer-funded bailout, it’s another sure sign this entire health law has to be replaced.”
In November, Rubio and Griffin introduced The ObamaCare Taxpayer Bailout Prevention Act, a bill that would eliminate a provision of ObamaCare that allows for taxpayer-funded bailouts of insurance companies at the Obama Administration’s sole discretion. Under ObamaCare’s section 1342, so-called risk corridors were established for the law’s first three years as a safety net for insurers who experience financial losses. The Rubio-Griffin bill would fully repeal the risk corridor provision, thereby ensuring that no bailout will occur under ObamaCare’s section 1342.
Last week, 33 groups and leaders delivered the following letter to Rubio and Griffin. A PDF is available here. In addition to the signatories below, the legislation has been endorsed by American Conservative Union, Americans for Prosperity, Center for Freedom and Prosperity, Club for Growth, R Street Institute, and TeaParty.net.
