Hoyer: Affordable Care Act is Good for People, Good for the Economy, Good for the Budget

Press Release

For Immediate Release:

2015-03-24T00:00:00

Contact Info:

WASHINGTON, DC – House Democratic Whip Steny H. Hoyer (MD) delivered the following remarks this morning at a press conference marking the fifth anniversary of the signing of the Affordable Care Act with House Democrats and Americans positively affected by the law:

“Thank you very much, Leader Pelosi. There is no person in our country more responsible for the passage of the Affordable Care Act than then-Speaker Nancy Pelosi, and I thank her for her leadership.

“The Affordable Care Act adopted five years ago yesterday is good for people, but it’s also good for the economy, and it’s been good for our budget. The Presidents signed the Affordable Care Act into law to protect patients from discrimination, make coverage more accessible, and get health care costs under control. According to the Congressional Budget Office, the Affordable Care Act reduces the deficit by over $100 billion in the first decade of its existence and by more than $1 trillion over the next ten years. That is smart policy, as well as good moral policy.

“At the same time, the law has helped slow the growth in health care costs to its lowest rates since the 1960s. CBO reported this month that the projected deficits for 2016 [through] 2025 will be $431 billion less than what was projected in January because of the Affordable Care Act’s reforms. The Affordable Care Act is working so well to bring down deficits that the CBO keeps having to revise deficit projections in the right way, and that is down.

“Central to the law are measures that help small businesses provide affordable coverage to their employees. Remember at the outset I said it was good for people, good for the economy, and good for the budget.

“We are fortunate today to be joined by a small business owner from my home state of Maryland who correctly predicted the positive economic impact this law would have on small businesses. I am now so pleased to yield to my friend, Mr. Jamal Lee of Laurel, Maryland.”