On the recordFebruary 1, 2012
This amendment reads, ``The Secretary shall develop three actuarially sound benefit plans.'' This amendment's small fix gives the administration the ability to implement a program that enjoys the support of two-thirds of all Americans, including, I should add, over half of Republicans. The stipulation for moving forward, however, is that CLASS is implemented on an actuarially sound basis. The distinguished gentleman from Louisiana and author of the underlying bill has expressed some opposition to my amendment, suggesting that it will waive the solvency requirement. I respect the gentleman's work and service, but I regret that the claim is simply untrue. This amendment gives the Secretary waiver authority only after three requirements are met. The plan must be actuarially sound, must address adverse selection, and must have market appeal. The deliberate obfuscation of this amendment's intention is a textbook example of why American's are fed up with Washington. I would work with anyone in any party to protect the financial security of middle class and near-retirees. But when attempts to improve the existing law in a fiscally responsible way are treated in this manner, it is no wonder why we can't get things done. The bill's proponents say, Trust us. We'll replace this. Unfortunately, over a year ago they said the same thing about the Affordable Care Act. Instead we had repeal and replace, minus the replace.…
