Sen. Donnelly Issues Statement on Tax Day

WASHINGTON, April 17 -- The office of Sen. Joe Donnelly, D-Indiana, issued the following statement on Tax Day.

Last week, analysis from the non-partisan Congressional Budget Office (CBO) projected that the federal budget deficit will reach $1 trillion by 2020, two years earlier than previously expected, and that federal debt will rise to nearly 100% of Gross Domestic Product (GDP) by 2028, which would be the highest debt level since just after World War II. According to the CBO, these adjustments are due "primarily" to the partisan McConnell-Ryan tax law from late 2017.

Donnelly said, "As Hoosier families file their taxes, many face a harsh reality: rising health care costs, caused in part by the McConnell-Ryan tax law, and the threat of cuts to Medicare and Social Security benefits in order to pay for the spiking deficit caused by this bill. As I have said repeatedly we should work together to make health care more affordable, and I will fight against any effort that jeopardizes Medicare and Social Security benefits for Hoosier seniors and retirees."

The CBO also estimated that certain health insurance premiums in the individual marketplace are projected to increase by 34% on average this year due to changes in the tax law. In recent weeks, studies from the independent Urban Institute, Covered California, and AARP have shown the harm that the McConnell-Ryan tax law as well as the Administration's efforts to sabotage our health care system are expected to have on insurance markets and the potential double-digit increases that Hoosiers may see as a result.