Rep. Garamendi Issues Statement on Repeal of Affordable Care Act - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
May 5, 2017 Newswires
Share
Share
Post
Email

Rep. Garamendi Issues Statement on Repeal of Affordable Care Act

Targeted News Service

WASHINGTON, May 4 -- Rep. John Garamendi, D-Calif., former Insurance Commissioner of California, released the following statement about the passage in the House of Representatives of the repeal of the Affordable Care Act, which ends many of the law's essential consumer protections:

"This bill is atrocious. It is cruel. I simply cannot believe that something this bad could pass the House of Representatives, but it has.

"This bill will strip 24 million people of their health insurance. It is a crushing age tax for Americans of 50-64 years of age, and will force them to pay up to five times as much as what a 30-year-old would pay for the same coverage. It will destabilize funding for Medicare, taking $75 billion out of the trust fund, and blow a $10 billion annual hole in MediCal. It will practically eliminate the guarantee of coverage for pre-existing conditions, which could affect over 300,000 people in my district. But it will provide a massive, $600 billion tax cut to America's richest. It is an outright assault on the poor and the sick, and a huge transfer of wealth to the rich. Even worse, the Republican majority rushed to a vote on it without giving the Congressional Budget Office a chance to tell us just how bad it is.

"I served for eight years as the Insurance Commissioner of California. I know exactly what insurance companies will do under policies that gives them free rein, and that's what this bill does. The amendments that were put on this bill at the last second do nothing to reduce the devastation it will impose on America's most vulnerable. It is a sad day in Congress."

The bill passed by a vote of 217-213, with no Democrats voting for the bill.

Older

Nude dancers at Deja Vu offered $6.5M to settle federal suit

Newer

Rep. Gallagher Releases Statement on Passage of the American Health Care Act

Advisor News

  • SEC nears settlement with accused scammer Tai Lopez
  • The 3 things that shrink your Social Security income
  • Proposed legislation takes aim at Social Security shortfall
  • The overlooked retirement security risk that must be addressed
  • What advisors should know about hedge funds in retirement planning
More Advisor News

Annuity News

  • Globe Life Inc. (NYSE: GL) Highlighted for Surprising Price Action
  • Trademark Application for “EMPOWER YOUR MONEY” Filed by Empower Annuity Insurance Company of America: Empower Annuity Insurance Company of America
  • Built-in guaranteed annuities: What advisors should know
  • Malibu Life Holdings Completes Acquisition of TruSpire, Establishing Malibu USA and Accelerating Entry into the U.S. Retail Annuity Market
  • Why job boards are failing insurance agencies
More Annuity News

Health/Employee Benefits News

  • UnitedHealthcare launches spending account benefit
  • Afternoon Briefing: Health insurers propose double-digit-percentage price increases
  • Health insurers propose double-digit-percentage price increases for Illinois exchange plans
  • Anthem Establishes Coverage of C2N Diagnostics’ PrecivityAD2® Blood Test for Alzheimer’s Disease Evaluation
  • Reynolds creates Iowa Medicaid fraud task force
More Health/Employee Benefits News

Life Insurance News

  • AM Best Revises Outlooks to Stable for Missouri Farm Bureau Group’s Members and Farm Bureau Life Insurance Company of Missouri
  • Globe Life Inc. (NYSE: GL) Highlighted for Surprising Price Action
  • AM Best Assigns Credit Ratings to China Ping An Insurance (Hong Kong) Company Limited
  • Reliance Matrix Expands Employee Navigator Integration with New Evidence of Insurability (EOI) API Enhancement
  • How AI is changing the insurance claims process and what it means for accident victims
More Life Insurance News

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Press Releases

  • Prosperity Life GroupSM Launches Prosperity PathWaySM Series, Bringing Greater Choice and Flexibility to Retirement Income Planning
  • Senior Market Sales® Fortifies Annuity Reach With Acquisition of Retirement Planning Firm Stratton & Company
  • RFP #T01625
  • Rockwood Programs Appoints Kerry Ladouceur as Vice President, Financial Lines
  • JP Insurance Group Launches Commercial Property & Casualty Division; Appoints Joe Webster as Managing Director
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet