WASHINGTON, D.C. – Today, Ways and Means Committee Chairman Jason Smith (MO-08) delivered the following remarks opposing an extension of fraud-riddled Obamacare premium tax credits for the wealthy.

As prepared for delivery.

“I rise in opposition to $100 billion bailouts for broken system fueled by Democrat mandates.

“I rise in opposition to subsidizing insurance plans for wealthy people – any support of the bill ensures subsidies go to wealthy families making as much as $600,000 a year.

“I rise in opposition to using hard-earned taxpayer dollars to bail Democrats out of their own decision to make this COVID-era spending temporary so they could give Green New Deal tax breaks for the wealthy for electric vehicles and solar panels.

“Check the math: Nearly half of all Americans get their insurance from their employer. Nearly a quarter from Medicaid, and a bit less than that from Medicare. Only 7 percent of the population relies on Obamacare marketplace plans. This chamber should be about helping 100 percent of Americans. 

“It is shameful that Democrats are only focusing on 7 percent of the population, while ignoring the millions of working families struggling to afford care.

“Since Obamacare was enacted, premiums have increased 80 percent. Deductibles and out-of-pocket costs skyrocketed. Families worry about medical debt – that is, those who still have access to doctors. In fact, 150 rural hospitals have closed in those 15 years. And small businesses were crushed under the weight of new mandates.

“Not only do Democrats refuse to fix any of this, they want to make it permanent – at a cost of $400 billion! No thanks.

“Mr. Speaker, reverting these tax credits back to the original structure that Democrats designed means 93 percent of enrollees will still retain access to very generous subsidies next year. Sixty percent of enrollees will still have access to a plan at or below $50 a month. I represent one of the poorest congressional districts in the country, and still 99.7 percent of constituents in my district will be completely unaffected by this expiration. 

“So, why are we even having this debate? Because Democrats chose to make these giveaways temporary, not once, but twice, as part of their partisan spending bills. The reason they did so was to shower the rich with Green New Deal subsidies.

“And here’s a word you won’t hear from Democrats: Fraud. They forced taxpayers to pay up to $27 billion for as many as 6.4 million individuals fraudulently enrolled in Obamacare plans. 

“Nearly half of all enrollees – that’s 12 million – didn’t even file a single medical claim – not even a prescription – all year. Sounds like they didn’t even know they had insurance through Obamacare.

“So I called on the Government Accountability Office to investigate. They created fictitious Obamacare applicants with fake documentation.

“One hundred percent – not ‘some’ not ‘half,’ one hundred percent – were approved in the first year. Ninety percent are still approved, resulting in checks worth more than $12,000 per month going to insurance companies.

“One Social Security number was associated with 125 different Obamacare policies in one year. GAO not only found that 58,000 enrollees matched Social Security death records, but 7,000 of them were dead before enrollment began.

“In response, Democrats only bragged about higher health insurance enrollment. They’re really celebrating subsidizing insurers for people without a pulse. For Democrats, fraud comes first.

“Mr. Speaker, Republicans are putting real, living Americans first. 

“We blocked illegal immigrant access to taxpayer funded health care benefits, then eliminated over $185 billion worth of fraud and waste in the Obamacare Marketplace. For Americans who are eligible, we actually lowered Obamacare premiums, and expanded access to health savings accounts, direct primary care, and telehealth for millions – including Obamacare enrollees as part of the Working Families Tax Cuts. We invested $50 billion in the health care needs of rural communities. We passed the Lower Health Care Premiums for All Americans Act, which also lowered premiums even further, as well as provided more freedom and flexibility for health care access and increased competition by negotiating better drug prices for workers.

“Mr. Speaker, I’ll take greater access to affordable health care any day over shoveling more tax dollars into Democrats’ health care fraud schemes. I oppose this legislation.”