Congressman Brian Higgins (NY-26), the Vice Ranking Member on the House Committee on Ways and Means, spoke before the committee during the legislative mark-up of the American Health Care Act (AHCA), the bill intended to replace the Patient Protection and Affordable Care Act. During his remarks, Higgins condemned a provision in the AHCA regarding tax-deductible executive compensation:
(To hear full remarks click above or go to: https://youtu.be/FbWDzycYSrw)
In addition Higgins offered the following statement:
The American Health Care Act and its roll-out squanders an opportunity to improve America’s healthcare system. Under this bill, hard-working Americans and seniors are forced to pay, while private health insurance companies are allowed to claim exorbitant executive compensation as a business expense for federal tax deductions.
There is only one ‘repeal and replace’ strategy that Congress should entertain. Repeal this morally reprehensible provision that allows insurance companies to write-off the multi-million dollar salaries of their CEOs. Replace it with a bill that stops taking advantage of hard-working people and older Americans and admonishes insurance companies to bring executive salaries in line with reality.
Americans hope that when they need their health insurance, it will be there for them. They deserve a bill that covers their basic needs instead of enriching insurance executives.