WASHINGTON -- The following information was released by the office of New Jersey Rep. Albio Sires:
After thoughtful consideration of H.R. 3962, the Affordable Health Care for America Act, I stand here today in strong support of this legislation. Beyond the expansion of coverage that this bill will bring to 115,000 of my constituents, it will reduce health care spending and our national deficit over time, as well as create new job opportunities within the health care sector.
First, the bill is estimated to provide affordable health coverage to 96 percent of all Americans. For people that like their current plans, they will be able to keep it, but for those individuals who are not currently covered by their employers and for those small businesses who can not currently afford health care coverage for their employees, a new Health Insurance Exchange will be created. Here consumers will be able to comparison shop from a menu of affordable, quality health care options, including private plans, health co-ops, and a new public health insurance option. Financed by its own premiums, the public option will operate on a level playing field with private insurers to spur additional competition. The Exchange will lead to improved coverage and care by creating competition based on better quality and prices.
Additionally, to ensure coverage is affordable for all Americans, affordability credits would be provided to qualified individuals in the Exchange; tax credits for up to 50 percent would be available for certain small businesses who acquire insurance; and Medicaid would be expanded to cover individuals with incomes up to 150 percent to the federal poverty level.
Second, this legislation will be entirely paid for, while not adding a dime to the deficit, rather reducing the deficit over the next two decades. It will also put Medicare and Medicaid on the path to a more fiscally sound future, so seniors and low-income Americans can continue to receive quality health care benefits for years to come.
Third, this bill makes tremendous investments in our nation's health workforce, especially in the field of primary care. Under this legislation, existing scholarship, loan repayment, and training grant programs are strengthened to address the need for primary care, nursing, and public health professionals. The primary care workforce is also enhanced by expanding the National Health Service Corps and creating a new primary care loan program. Additionally, a new generation of public health workers will be trained through a new loan repayment and scholarship program modeled on the National Health Service Corp. These investments will come at a critical time as there will be an increased need for primary care professionals due to the influx of new patients caused by increasing access to coverage and care.
Finally, this bill will create high quality research opportunities and jobs. By including the framework for allowing biosimilar competition created by the Energy and Commerce Committee, a new class of medicines will flourish to help lower costs and bring competition in prescription drugs. As this provision requires much research and testing to ensure patient safety, more high paying, highly skilled jobs will increase in New Jersey as the biosimilar industry grows. It is imperative that we keep this research and these jobs in this country. We cannot allow these research opportunities to leave this country, and I intend to work with the Secretary of HHS and the Commissioner of the FDA to ensure they stay in the United States.
Madam Speaker, while I have heard the arguments against this bill and I respect my colleagues for their opinions, the benefits of this legislation can not be ignored. It will do many great things to improve access to affordable care for my constituents, as well as create good jobs in a fiscally responsible manner. And it is for these reasons that I will be voting yes in favor of health care reform.
