Following Hurricane Helene’s catastrophic damage throughout Florida’s gulf coast, U.S. Senator Marco Rubio (R-FL) met with the Florida Farm Bureau as well as local agricultural producers, farmers, and growers to discuss the storm’s impact. Photos are courtesy of...
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Photos: Rubio Visits Barrier Islands Post-Hurricane Helene
Following Hurricane Helene’s catastrophic damage throughout Florida’s Gulf Coast, U.S. Senator Marco Rubio (R-FL) met with local officials and volunteers from the barrier islands to discuss the storm’s impact and current recovery efforts. Photos are courtesy of...
Rubio, Scott, Florida Colleagues to POTUS: Expedite Resources to Floridians
Hurricane Helene made landfall as a Category 4 storm, causing catastrophic damage along Florida’s Gulf Coast. It’s crucial for the federal government to expedite state-requested resources and authorize key policy flexibilities in order for Floridians to make a swift...
Rubio Staff Hosts Hurricane Helene Recovery Assistance
U.S. Senator Marco Rubio’s (R-FL) office will host two in-person events to assist constituents affected by Hurricane Helene and help navigate applications for FEMA assistance. Food, water, and additional resources will be available at the events. Event...
Next Week: Rubio Staff Hosts Mobile Office Hours
U.S. Senator Marco Rubio’s (R-FL) office will host in-person and virtual Mobile Office Hours next week to assist constituents with federal casework issues in their respective local communities. These office hours offer constituents who do not live close to one of...
Rubio, Scott Urge FEMA to Expedite Hurricane Reimbursements
Following the impacts of Hurricanes Helene and Debby, some local governments in Florida face looming budget shortfalls that could disrupt disaster recovery efforts. If these local governments receive reimbursements for past hurricanes from the Federal Emergency...
Rubio Introduces Bill Preventing Taxpayer-Funded Bailouts Of Insurance Companies Under ObamaCare
Washington, D.C. –U.S. Senator Marco Rubio (R-FL) today introduced S.1726, The ObamaCare 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. Last week’s announcement by President Obama that he would act unilaterally to “fix” his broken “you can keep your plans” promise now increases the likelihood of a bailout of health insurance companies with taxpayer dollars. Rubio’s bill would fully repeal the risk corridor provision, thereby ensuring that no bailout will occur under ObamaCare’s section 1342.
“The American people are sick of Washington picking winners and losers, especially since the chosen losers often end up being taxpayers who foot the bills for Washington’s mistakes,” said Rubio. “Washington’s bailout culture must end, and eliminating ObamaCare’s blank check for a bailout of insurance companies is a common sense step to protect taxpayers when ObamaCare fails.”
The ObamaCare Bailout Prevention Act is co-sponsored by Senators Saxby Chambliss (R-GA), Jim Inhofe (R-OK), Mike Lee (R-UT), Mitch McConnell (R-KY), Rand Paul (R-KY) and David Vitter (R-LA).
A PDF of the draft legislation is available here. In a letter available here, Rubio has also requested that the Congressional Budget Office (CBO) examine the budgetary impact, or score, of the risk corridor program under ObamaCare’s section 1342.