Michael Roth: “In 5 years, it is estimated it would cost something like $75 billion. Under the budget resolution, we are allowed to…”

“In 5 years, it is estimated it would cost something like $75 billion. Under the budget resolution, we are allowed to spend $20 billion in 5 years, if we have no reform. If we have reform, our program can consume up to $40 billion. This piece of legislation would cost something like $75 billion. The last thing we need to do is move ahead on legislation that would put our Medicare program at greater risk. Its solvency is already estimated to last only until 2025. In adopting what will be admittedly an expensive new program, we want to make sure that it is fiscally sound. I urge and hope my friends on both sides of the aisle will reject this legislation and give the Finance Committee, which has jurisdiction, the opportunity to develop a bill that will serve the needs of our senior generation.”