Tim Ryan: “Thank you, my friend. One quick piece of business that has been mentioned several times here today is the countdown to…”

“Thank you, my friend. One quick piece of business that has been mentioned several times here today is the countdown to the Bush prescription drug tax. Now, for those Members who do not remember, the Republican Congress voted this boondoggle a few months back, told us it was $400 billion before we cast a vote on it, and it ended up being $700 billion. The real number was actually hidden from Members of the United States Congress before they voted. What happens is through this bill seniors have until May 15 to sign up for the prescription drug plan, and if they do not sign up by May 15, they are going to be penalized with the Bush prescription drug tax, which means that there will be an increase in monthly premiums by 1 percent for every month they do not sign up. So if they do not sign up by May 15, they will not be eligible to sign up, I think, until January of 2007 to begin again. That means there will be a 7 percent increase if seniors do not sign up by May 15. This is a complex plan, a complicated plan; and we are rushing and forcing our seniors to make a decision. So we just want to put a little X here on Thursday, March 30, a couple days before the Final Four begins, so our seniors know that the countdown is on and they have several weeks before this President will levy a tax on them.”