Rep. Rick Allen Introduces Legislation to Protect Americans from Failed State Exchanges
WASHINGTON, DC--Today, U.S. Congressman Rick Allen (R-Ga.-12) today introduced H.R. 4262, the Transparency and Accountability of Failed Exchanges Act. This legislation ensures that American taxpayers are not left paying for the failures of Obamacare by holding states that have set up state exchanges accountable and providing clear steps to recoup federal funds when they ultimately fail.
“After five years of failed policies and higher cost of care, it has become crystal clear that Obamacare was not well thought out. When this legislation was signed into law, the President freely gave money away to states to establish the state exchanges— however they forgot one piece of the puzzle. They provided no solution for recovering these funds when the state exchanges failed. Billions of taxpayer dollars have been spent since—and the taxpayers should not be on the hook for subsidizing these failed exchanges. My legislation fixes the problems by providing a plan to recover federal funds when the state exchanges fail and requires unused funds to be returned back to the federal government to pay down the national debt. The shortcomings of Obamacare should not be placed on the backs of American taxpayers.”
The Transparency and Accountability of Failed Exchanges Act provides two important steps in recovering taxpayer assets and ensuring transparency:
Congressman Allen recently spoke on his legislation, to watch his speech click HERE.
This legislation has been endorsed by Americans for Tax Reform, National Taxpayers Union, Council for Affordable Health Coverage and Citizens Against Government Waste.