Today’s Agenda
Today, Senator Lee will meet with representatives of Boys & Girls State. He will also attend a hearing held by the Foreign Relations Committee and a hearing held by the Judiciary Committee.
From the Senator’s Desk
Courtesy of the Republican staff of the Joint Economic Committee:
In their re-estimate of the health care law in light of the Supreme Court’s ruling, the Congressional Budget Office yesterday noted that the ruling would likely result in some individuals previously thought to gain Medicaid coverage receiving subsidies to buy insurance on Exchanges instead. CBO believes that these individuals “generally have somewhat poorer health. As a result, CBO and JCT now estimate that the premiums for health insurance offered through the exchanges, along with premiums in the individual market, will be 2 percent higher than those estimated in March 2012.”
This 2 percent increase highlighted yesterday amounts to a little over $300 per year for a family, given an average premium on the individual market of about $15,200 per year, according to a CBO analysis published in 2009 (page 6). And that increase comes in addition to the $2,100 per family premium increase CBO previously predicted when the law first passed – meaning that the average premium increase in the individual market thanks to Obamacare will be just under $2,500 per family per year.
Candidate Obama repeatedly promised premiums would be impacted by about $2,500 per family in his proposal – a development CBO has now confirmed. The only problem is that candidate Obama promised premiums would go DOWN $2,500 – but under the law President Obama signed, premiums will go UP by nearly the same amount. It’s one more reason why Obamacare is a step in the wrong direction for struggling middle class families.
On Twitter
It is unfortunate to see the Senate vote to destroy 700,000 #jobs.This certainly won’t help the middle class survive the #ObamaEconomy.
— Mike Lee (@SenMikeLee) July 25, 2012
Can we celebrate with BBQ on the East Front? RT @thehill: USDA retracts support of ‘Meatless Monday’ after GOP revolt bit.ly/PMDsyl
— Brian Phillips (@SenLeeComs) July 26, 2012
Twitter is so smart! 🙂 RT @silverstweets:Okay Twitter… Guess I’m following @SenLeePressSec now. instagr.am/p/Ni3f8AzZAf/
— Emily Bennion (@SenLeePressSec) July 26, 2012
New home sales plummet, “last few months showing decelerating #jobs growth” in sector: reut.rs/OmEvls #housing #economy #unemployment
— Joe Tauke (@SenLeeResearch) July 25, 2012
Around the Water Cooler
EPA: Water is safe in town in PA drilling region
The U.S. Environmental Protection Agency said Wednesday it has completed tests on drinking water in the northeastern Pennsylvania village of Dimock and has determined it is safe to drink, despite the claims of some residents who say it has been polluted by gas drilling.
Debt crisis: Greece to run out of money by August 20
Greece may run out of money and go bankrupt by Aug 20, a British government analysis of the ongoing eurozone crisis has warned.