Rep. Pallone Issues Statement on Medicare, Social Security Trustees Report

WASHINGTON, June 5 -- Rep. Frank Pallone Jr., D-New Jersey, ranking Democratic member of the House Energy and Commerce Committee, issued the following statement on a report from the trustees of Social Security and Medicare indicating that Medicare will become insolvent three years earlier than previous projections:

"The Republican's tax scam continues to inflict damage on our nation's finances as Medicare is now on track to be insolvent three years sooner than previously anticipated.

"This deterioration in Medicare's finances is a direct result of President Trump and Congressional Republicans selling America's seniors down the river so that they could shower tax cuts on the ultra-rich and big corporations.

"Democrats will not allow Republicans to break America's promise to our seniors that Medicare will be there for them after a lifetime of hard work."