GOP Budget Gives Wealthy More Tax Breaks But Could Raise Each Senior’s Out-of-Pocket Health Care Costs by $5,900
GOP Plan Would Force Seniors to Pay $2.5 Billion More In Prescription Drugs Next Year Alone By Reopening Drug ‘Donut Hole’
New State-By-State Reports Showing Devastating Local Impact on Seniors Found Here
Washington, D.C. – Today, the Democratic Policy and Communications Center (DPCC) detailed the devastating effects of the new Republican budget in a series of state-by-state reports. The Republican budget introduced by Paul Ryan is anything but balanced. It would end Medicare as we know it, forcing seniors into a costly voucher system, while providing more tax breaks to millionaires. It would gut investments that strengthen the middle class, while protecting tax loopholes that benefit corporations that ship jobs overseas.
“The closer you look at the numbers, the worse the House Republicans’ budget gets for the nation’s seniors. The Republican budget that would end Medicare as we know it is anything but balanced. Rather than taking a balanced approach to deficit reduction, the Republican budget would kick millions of seniors into a voucher program, and force them to pay more for prescription drugs,” said Senator Charles E. Schumer, Chairman of the Democratic Policy and Communications Center. “This reckless budget would gut programs that are essential to the middle class, while preserving tax breaks for the wealthy and huge corporations. The Democratic plan preserves investments in job-creating programs, cuts wasteful spending, and protects Medicare for our seniors.”
Under the proposal, set to receive a vote in the House next week, seniors would see their out-of-pocket costs increase by as much as $5,900 per year.
The Republican budget would also reopen the prescription drug donut hole for millions of current seniors, forcing them to pay an additional $2.5 billion dollars for prescription drugs next year alone. A county-by-county breakdown of seniors’ savings on prescription drugs thanks to the Affordable Care Act through December 2012 can be found here. These savings would be wiped out in the Republican budget plan.
- The Republican plan could increase out-of-pocket health care costs per senior by $5,900.
- Nationwide, over 3.5 million seniors saved more than $2.5 billion in prescription drug costs last year. The GOP budget would eliminate those savings in the years to come.
- Over 34 million seniors could pay more for preventive services this year.