Frank Pallone: “as this calendar shows, the countdown continues to an outrageous tax congressional Republicans and the Bush…”

“as this calendar shows, the countdown continues to an outrageous tax congressional Republicans and the Bush administration plan to inflict on American seniors. If Washington does not act before May 15, millions of seniors who have yet to choose a prescription drug plan will face a 1 percent tax that will be added onto their drug premiums for every month that they wait to sign up. So if a senior, for example, does not choose to sign up for a plan until September, that senior would be forced to pay a 5 percent tax on top of their monthly premium every single month for the rest of their lives. President Bush has already admitted that his prescription drug plan is complicated and confusing, and yet the President refuses to give seniors more time to sign up for a drug plan without facing a penalty. If the President refuses to act, Congress must step in. Congressional Democrats want to extend the deadline until the end of the year, giving seniors 7 additional months to navigate the complexities of the plan. As we mark off another day on the calendar, Mr. Speaker, time is running out for congressional Republicans to join us in supporting this extension. America's seniors cannot afford a Bush prescription drug tax. ____________________”