[Congressional Record Volume 160, Number 6 (Friday, January 10, 2014)]
[House]
[Page H137]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                     AMEND THE AFFORDABLE CARE ACT

  (Mr. COFFMAN asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. COFFMAN. Mr. Speaker, this week I introduced legislation that 
will amend the Affordable Care Act, better known as ObamaCare, to 
prohibit a bailout for the insurance industry that is currently 
authorized under section 1341 and section 1342 of the Affordable Care 
Act.
  The American people have had enough of bailouts for Big Business. It 
is time for this culture of corporate cronyism that has become a 
dominant part of Washington, D.C., to stop. My legislation, No Bailouts 
for the Insurance Industry Act of 2014, would amend the Affordable Care 
Act to repeal section 1341, the ``reinsurance'' fund, and section 1342, 
the ``risk corridor'' provision.
  Together, both can provide for a massive taxpayer bailout to cover 
the insurance industry losses. The taxpayers should not be on the hook 
for the failures of ObamaCare. Any reasonable person can see that this 
scheme isn't going to work, and the American people should not be 
forced to bail it out once it fails.
  Mr. Speaker, I urge the passage of the No Bailouts for the Insurance 
Industry Act of 2014.

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