Thinking of it another way, that $250,000 cap is now worth just over $56,000, nearly a fifth as much. Even assuming that $250,000 is the appropriate figure today, fairness demands that this cap be indexed for inflation going forward so that we do not see a similar erosion of value. But this bill locks in an already low cap and lets it dwindle away until it is worth essentially zero. I offered an amendment to adjust the cap to reflect 40 years of inflation, and to index it going forward, but the Rules Committee did not make it in order. Instead, we are forced to vote on a bill that, over time, will consider pain and suffering to be worth nothing at all. This bill would not reduce the cost of malpractice insurance, it would not drive bad doctors out of practice, and it would certainly not protect patients. What it would do is give a free ride to a healthcare provider, or a healthcare entity, that seriously harms a patient or a consumer. I urge my colleagues to reject this unfair and unnecessary legislation.
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