Service Members Home Ownership Tax Act Of 2009

Floor Speech

Service Members Home Ownership Tax Act Of 2009

BREAK IN TRANSCRIPT

Mr. DURBIN. Mr. President, this is a basic choice. Will we continue to subsidize private health insurance companies that are overcharging the Medicare Program by 14 percent? Will we take that money out of Medicare to continue the subsidy for profitable private health insurance companies? It is that basic. I say to the Senator from Tennessee, the Congressional Budget Office tells us, yes, untouched, the Medicare program in 7 or 8 years faces insolvency. But this bill adds 5 years of solvency to Medicare right off the top--something he won't acknowledge but he should. Let me also add, if we are going to bring down the cost of Medicare so that recipients get quality care, we have to get rid of these outrageous subsidies to private health insurance companies, the Medicare Advantage Program. We also have to be honest about those providers overcharging Medicare. Why does it cost twice as much in Miami for the same service that is given to Medicare patients in Rochester, MN? It should not. Somebody is ripping off the system. If we can't ask those honest questions, then I am afraid we will not put Medicare on sound financial footing. We can do that. But we can't do that by saying: We have got to continue to subsidize private health insurance companies out of Medicare. That is the Hatch amendment. That is what we should vote against.

I yield the floor.

BREAK IN TRANSCRIPT

Source