Momentum Grows for Rubio-Griffin Obamacare Taxpayer Bailout Prevention Legislation

Press Release

U.S. Senator Marco Rubio (R-FL) and Congressman Tim Griffin (R-AR) today welcomed new signs of growing momentum against a taxpayer-funded bailout of health insurance companies under ObamaCare. In a recent letter to Rubio and Griffin, 33 national groups and leaders, representing the views of millions of Americans, formed a coalition in support of legislation to eliminate ObamaCare risk corridor payments.

There are currently 13 Senate co-sponsors of S.1726, The ObamaCare Taxpayer Bailout Prevention Act. In the House, H.R. 3541 currently has 54 co-sponsors.

"As awareness grows about the likelihood of a taxpayer-funded bailout of health insurers under ObamaCare, this possibility will be taken off the table," said Rubio and Griffin in a joint statement. "The American people are tired of paying for Washington's mistakes and tired of politicians who leave them and future generations with the bill. If ObamaCare can't survive without a taxpayer-funded bailout, it's another sure sign this entire health law has to be replaced."

In November, Rubio and Griffin introduced The ObamaCare Taxpayer Bailout Prevention Act, a bill that would eliminate a provision of ObamaCare that allows for taxpayer-funded bailouts of insurance companies at the Obama Administration's sole discretion. Under ObamaCare's section 1342, so-called risk corridors were established for the law's first three years as a safety net for insurers who experience financial losses. The Rubio-Griffin bill would fully repeal the risk corridor provision, thereby ensuring that no bailout will occur under ObamaCare's section 1342.

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