FACT CHECK: Second ad from out-of-touch billionaires ignores skyrocketing insurance premiums caused by GOP tax plan
A second ad from a special interest group funded by the Koch brothers again deceives Hoosiers, neglecting to tell them that the McConnell tax plan will explode health care costs for middle class families and balloon the national debt, which will be paid for with cuts to Medicare and Social Security.
Despite focusing on medical care, the latest ad from the Koch-backed Americans for Prosperity ignores that many major health insurers are receiving billions of dollars in new tax breaks. However, despite profiting, those same insurers are poised to wipe out any gains from middle class Hoosiers when they raise health care premiums by double digits to account for GOP sabotage of our health care system. An analysis from the non-partisan Tax Policy Center has shown that any gains to Americans earning between $50,000 and $75,000 will likely be negated when other factors like premium hikes are included.
Last week, the Washington Post reported on a new study that clamed Indiana had a “high marketplace risk” of premiums rising by as much as 50% by 2021. It placed much of the blame on the McConnell tax plan, which will cause 13 million people to go without health insurance within 10 years.
The McConnell tax plan is also a deficit-buster that will add as much as $2.2 trillion to the national debt. Washington Republicans, including some of Indiana’s GOP Senate candidates, have already begun discussing efforts to cut Hoosiers’ Medicare, Medicaid, and Social Security in order to make up the difference.
Joe Donnelly has worked time and again for a better tax code that helps working Hoosiers and small businesses. His End Outsourcing Act, which he has discussed numerous times with President Trump, would create tax incentives for companies that relocate foreign jobs to rural and low-income communities in the U.S. He also voted to make the Bush tax cuts permanent for the vast majority of Americans.
"Joe tried hard to work with Republicans to craft a tax plan that helps middle class Hoosiers and doesn't cause skyrocketing deficits, but instead the McConnell tax plan will add as much as $2.2 trillion to the national debt over ten years -- billionaires like the Kochs get massive new tax breaks, while older Hoosiers get stuck with massive cuts to Medicare, Medicaid and Social Security to pay for it,” said Will Baskin-Gerwitz, Communications Director for Joe for Indiana. “What's more, the McConnell tax plan gives billions of dollars in new tax breaks to the same health care companies who are set to wipe out any gains from the plan for middle class Hoosiers when they raise health care premiums by double digits. Folks like Cathy will be much less happy when patients can no longer afford to see them thanks to the McConnell tax plan and other GOP efforts to sabotage our health care system."
To get the rest of the facts, click HERE.