Political Quotes

“There has been a lot said about the Affordable Care Act on the floor of this Chamber for 5 years. I was here when we passed the Affordable Care Act. I am in the Senate as it is being implemented. There have been lots of things said about it, but this year marks one of the things we need to recognize as a major hit to small business. Bernie Marcus, a founder of Home Depot and the former chairman and CEO, opined yesterday in the Wall Street Journal about the cost of ObamaCare to American business, a hidden tax that has been unveiled on the American people, the American ratepayer, and the American small business person. A tax assessment of $8 billion in 2014 is being levied by the Affordable Care Act against every insurance company that sells to the small- and medium-sized market, to every insurance company that sells a Medicare Advantage policy or a Medicare managed care policy. The 2014 assessment is $8 billion, and it graduates up to where in 2018 it is $14.3 billion. That assessment is an arbitrary amount of money that was used as a pay-for in the ObamaCare legislation. It is assessed on the insurance companies based on their market share of the insurance market in small- or medium-sized carriers, Medicare Advantage, and Medicaid managed care plans.…”