Upton Bill Reduces Deficit By $14 Billion
WASHINGTON, DC - The Congressional Budget Office yesterday released a new estimate of how much taxpayers would save with enactment of H.R. 1213, legislation authored by Energy and Commerce Chairman Fred Upton (R-MI) to repeal the unlimited funding provided under the health care law to provide grants to states for various activities related to health insurance exchanges. The legislation will save more than $14 billion by 2021.
"With our national debt above $14 trillion, we must control spending. Our committee has spent the early months of this year exposing vast sums of unaccountable spending in the health care law, and this program is a prime example," said Upton. "The Secretary of Health and Human Services has been given an unlimited tap on the federal treasury to push for the establishment of state-based exchanges. While a number of states are opting against operating their own exchanges, some administration officials have actually pointed to this unlimited spending power as a way to help alleviate other budget challenges our states are facing. In other words, this is another slush fund designed to push the states into doing what the administration wants using financial leverage. I urge the House to pass this critical piece of legislation that would take another step to defund the health care law and reduce the deficit."
A vote is expected in the House next week on H.R. 1213. Click here to view the CBO report.