BY US REPRESENTATIVE TOM COTTON –
Washington, D.C.— Congressman Tom Cotton (R-Dardanelle) recently co-sponsored H.R. 3541 the No Bailouts for Insurance Companies Act, legislation that prevents taxpayer bailouts of insurance companies by ending Obamacare’s risk corridor program.
The risk corridor program was originally intended as a safety-net for insurance companies who incurred financial losses in the first three years of Obamacare. But the President’s recent unlawful fixes to this unworkable law have made these bailouts almost a certainty.
“Obamacare is destroying American health care, and now President Obama wants to bailout insurance companies. Hard-working Arkansans are hurting from Obamacare and they shouldn’t be on the hook for an illegal bailout. This legislation will protect Arkansas taxpayers and stop from President Obama taking more illegal actions to save Obamacare.”