Walz nervous about debt ceiling vote success - 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
    • Advertise
    • Contact
    • Editorial Staff
    • 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
August 21, 2017 Newswires
Share
Share
Tweet
Email

Walz nervous about debt ceiling vote success

Free Press (Mankato, MN)

Aug. 21--MANKATO -- Tim Walz thinks the past months spent of divisive debate on repealing the Affordable Care Act was necessary to get to a point where members of both parties can start focusing on improving it.

"We got caught up in the politics rather than the solution," he said of the failed attempts to repeal the law. Now, said the 1st District congressman, "We're at a reset position."

But while Walz held some optimism for a renewed effort on improving health care, he was less optimistic about an upcoming debt ceiling vote and a new Farm Bill.

Walz said the ACA successfully gave insurance access to many millions of people who didn't have it before. But as the cost of insurance skyrockets for many who are buying it on the market, he said the focus must turn to affordability, reducing overall health care costs and honing in on wellness and preventive care.

"You can't say to someone that they're guaranteed health care if their premiums are $26,000 a year," said Walz during a Monday morning breakfast sponsored by Greater Mankato Growth.

He said a recent health care listening session at Farmfest proved to him that even those who may have opposed Obamacare realize it will remain the law of the land. He said the questions and comments focused on ways to improve the ACA, not calls to repeal it.

Noting that most of health-care costs are consumed by a relatively small portion of the population, Walz said a renewed focus is needed on holding down costs. For starters, he said, the country needs to ramp up efforts to prevent diabetes and to better manage it when someone does have it. And, he said, requiring insurance on younger people is needed to spread out the costs of premiums.

"People say you want young, healthy people to help pay for older, sicker people? Well yes, that's what insurance is."

Walz, a Mankato Democrat who has announced he is running for governor, serves on the House Veterans and Agriculture committees.

He said that while national politics has been dominated by presidential and congressional turmoil, the Veterans Committee has found compromise and bipartisan support to pass major legislation, including a new GI bill that expands services for veterans. The bill was passed unanimously in both chambers and signed into law by President Trump.

He said the action in that committee shows there are members of Congress who want to work together on compromise legislation even as they disagree on policies.

Walz was less positive as the Ag Committee begins work on writing a massive new multi-year farm and nutrition bill.

In the past, when rural lawmakers held great sway in Congress, the farmer programs in the Farm Bill were crafted and then members gained support from urban lawmakers by negotiating things they wanted in the portion of the bill covering nutrition programs. Now, with few rural lawmakers left, pressure is on to spend less on the Farm Bill, with much of that cost-cutting aimed at farm programs.

Walz said the bill provides stability and security to farmers but also offers stability and lower costs in the food markets. "It's not just for the producers, but for the consumers in the grocery store."

Walz said his biggest fears about the mood in Washington is over upcoming votes on lifting the nation's debt ceiling, something that is required to keep the country from defaulting on its debts.

He said the majority part has traditionally brought up and approved the debt ceiling with support from the other party. But Walz said there's been no debate on the vote, which needs to take place in September.

"This one should make you nervous," he said, noting that if the debt ceiling isn't raised, it prevents virtually any other legislation from being passed as well as putting the nation in an unprecedented position of defaulting on its debts.

Follow Tim Krohn on Twitter @TimKrohn

___

(c)2017 The Free Press (Mankato, Minn.)

Visit The Free Press (Mankato, Minn.) at www.mankatofreepress.com

Distributed by Tribune Content Agency, LLC.

Older

Author who asks what Jesus might do in White House to speak at FSC

Newer

Feds halt study of potential link between surface mining and health problems

Advisor News

  • Wall Street executives warn Trump: Stop attacking the Fed and credit card industry
  • Americans have ambitious financial resolutions for 2026
  • FSI announces 2026 board of directors and executive committee members
  • Tax implications under the One Big Beautiful Bill Act
  • FPA launches FPAi Authority to support members with AI education and tools
More Advisor News

Annuity News

  • Retirees drive demand for pension-like income amid $4T savings gap
  • Reframing lifetime income as an essential part of retirement planning
  • Integrity adds further scale with blockbuster acquisition of AIMCOR
  • MetLife Declares First Quarter 2026 Common Stock Dividend
  • Using annuities as a legacy tool: The ROP feature
More Annuity News

Health/Employee Benefits News

  • MEDICAID MAKES $289 MILLION IN "UNALLOWABLE PAYMENTS" TO INSURE "DECEASED ENROLLEES"
  • Long-term care insurance can be blessing
  • Solano County Supervisors hear get an earful from strikers
  • How Will New York Pay for Hochul's State of the State Promises?
  • As the January health insurance deadline looms
More Health/Employee Benefits News

Life Insurance News

  • Americans Cutting Back on Retirement Savings, Allianz Life Study Finds
  • ‘My life has been destroyed’: Dean Vagnozzi plots life insurance comeback
  • KBRA Releases Research – 2026 Global Life Reinsurance Sector Outlook: Cautious Optimism as Asset-Intensive Sector Enters Its Next Phase
  • Best's Review Looks at What’s Next in 2026
  • Life insurance application activity ends 2025 with record growth, MIB reports
Sponsor
More Life Insurance News

- Presented By -

Top Read Stories

More Top Read Stories >

NEWS INSIDE

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

FEATURED OFFERS

Elevate Your Practice with Pacific Life
Taking your business to the next level is easier when you have experienced support.

ICMG 2026: 3 Days to Transform Your Business
Speed Networking, deal-making, and insights that spark real growth — all in Miami.

Your trusted annuity partner.
Knighthead Life provides dependable annuities that help your clients retire with confidence.

8.25% Cap Guaranteed for the Full Term
Guaranteed cap rate for 5 & 7 years—no annual resets. Explore Oceanview CapLock FIA.

Press Releases

  • Prosperity Life Group® Names Industry Veteran Mark Williams VP, National Accounts
  • Salt Financial Announces Collaboration with FTSE Russell on Risk-Managed Index Solutions
  • RFP #T02425
  • RFP #T02525
  • RFP #T02225
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
  • Advertise
  • Contact
  • Editorial Staff
  • 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