On the recordJune 18, 2015
Mr. President, I was so glad to see Senator Stabenow down on the floor a week ago talking about a pretty simple issue, which is the tax increase that is going to occur to 6.4 million Americans if the Supreme Court rules this week, next week, for the plaintiffs in the case of King v. Burwell. We wanted to come down to the floor and accentuate this message so people all around this country know what is at stake. What is at stake is 6.5 million people losing their health insurance. That maybe gets the headlines. But the way in which people get affordable health insurance under the Affordable Care Act is by tax credits. So the immediate effect of a reversal of subsidies for Federal exchange States is that 6.5 million Americans are going to have their taxes dramatically increased by thousands of dollars if this body refuses to act in the face of a Supreme Court finding for the plaintiffs. So we wanted to come down to the floor just to talk a little bit about what the stakes are for people's tax bills and how this is going to be a gut punch for millions of American families if the Supreme Court rules the way we hope they don't. I think it is, first of all, important to say at the outset that most of us who have followed the Affordable Care Act and its legal interpretation think this is a sham of a case. This is a political attack on the Affordable Care Act masked as a legal case.…
Source
govinfo.gov




