For immediate release: March 29, 2012

Congressman Bass Votes to End Medicare While Protecting Tax Cuts for Big Oil

Concord, NH - Today, House Republicans including Congressman Bass showed New Hampshire voters that his priority is protecting millionaires at the expense of the Medicare guarantee. Instead of joining Annie Kuster in standing up for New Hampshire seniors, Congressman Bass voted for the radical Republican budget that would end the Medicare guarantee while giving special tax breaks to Big Oil and corporations who ship jobs overseas.

“Rather than stand with the thousands of New Hampshire voters who have called on Congressman Bass to stand up for Medicare and vote against this budget, Rep. Bass sent an unmistakable message that he will protect millionaires over Medicare at every instance,” said Annie Kuster. “Bass’ priorities are no longer the priorities of this district: asking seniors to pay more for their health care, while giving additional tax breaks to the wealthiest Americans and to Big Oil companies who are taking in record profits. I pledge to fight for Medicare and to cut spending the right way, not balance the budget on the backs of seniors and the middle class.”

The AARP has said that the Ryan Budget will “simply increase costs for beneficiaries while removing Medicare’s promise of secure health coverage” and the non-partisan Congressional Budget Office found Medicare benefits “would likely shrink.”

Ann McLane Kuster is a Democratic candidate running for New Hampshire’s 2nd Congressional District.

BACKGROUND

Bass Voted for the House Republican Budget. On March 29, 2012, Bass voted in favor of the House Republican budget. [H.Con.Res. 112, Vote #151, 3/29/12]

Congressional Budget Office: Ryan’s Plan Would Likely Shrink Medicare Benefits, Increase Number Of Uninsured. “Medicare benefits would likely shrink under Rep. Paul Ryan’s (R-Wis.) latest proposal, the nonpartisan Congressional Budget Office said Tuesday. The budget office also said the number of people without health insurance could be ‘much higher’ under Ryan’s plan because it would repeal President Obama’s healthcare law. Ryan’s Medicare plan would convert some of the program’s funding into subsidies for private insurance. Seniors could choose between the traditional single-payer program or a private plan.” [The Hill, 3/20/11]

AARP: Ryan’s Plan Would Increase Health Care Costs for Older Americans. AARP CEO Addison Barry Rand wrote to Members of Congress on House Budget Committee Chairman Paul Ryan’s Fiscal Year 2013 budget resolution. In the letter, Rand wrote: “this proposal simply shifts these high and growing costs onto Medicare beneficiaries, and it then shifts even higher costs of increased uninsured care onto everyone else […] By creating a ‘premium support’ system for future Medicare beneficiaries, the proposal is likely to simply increase costs for beneficiaries while removing Medicare’s promise of secure health coverage — a guarantee that future seniors have contributed to through a lifetime of hard work.” [AARP Letter, 3/21/12]

Republican Budget Incentivizes Shipping Jobs Overseas. Under Current Tax law, U.S. companies with offices or facilities overseas pay the tax rate where the outpost is located and then, if the profits come back to the U.S., pay some U.S. taxes as well. Under the Republican budget, companies would essentially only pay the tax rate in the country where the profits are earned. Citizens for Tax Justice said that adopting this type of system would increase the incentives for moving jobs offshore. Also, The Tax Policy Center says that exempting these offshore profits from U.S. tax liability “might encourage some domestic companies to move more of their operations – and shift both jobs and more reported income – to low tax companies.” [National Journal, 3/20/12; Wall Street Journal, 3/19/12; Tax Policy Center, 2/28/12; Citizens for Tax Justice, 10/19/11]

House Republican Budget Would Give People Making Over $1 Million Per Year a $394,000 Tax Cut. “New analysis by the Urban-Brookings Tax Policy Center (TPC) finds that people earning more than $1 million a year would receive $265,000 apiece in new tax cuts, on average, on top of the $129,000 they would receive from the Ryan budget’s extension of President Bush’s tax cuts.” [Center for Budget and Policy Priorities, 3/27/12; see also Urban-Brookings Tax Policy Center, Table T12-0078 and T10-0132]

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