Maya McGuineas, Chair of the Committee for a Responsible Federal Budget, discusses her concerns about the future of Social Security and Medicare in a special report.
Vice President Kamala Harris is facing backlash for vowing to secure a Medicare trust fund, as critics point to her administration’s move to use it to offset premium increases.
Both Harris and former President Donald Trump participated in a survey by the American Association of Retired Persons (AARP), a leading advocacy group for Americans over 50, that focused on Social Security and health care issues. .
“I will always fight to protect and strengthen Medicare for this generation and future generations,” Harris told AARP last week.
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Vice President Kamala Harris speaks at a campaign event in Flint, Michigan, Friday, October 4, 2024. (Photographer: Sarah Rice/Bloomberg via Getty Images/Getty Images)
“That includes securing a Medicare trust fund and making sure that big corporations and the wealthy pay their fair share of taxes, which, by the way, they can afford to pay,” she said.
Critics say the Biden-Harris administration is intended to protect it from election fallout, but that the administration used taxpayer funds to hide future Medicare premium increases. was discovered this year.
Under the Inflation Control Act, which aims to cap out-of-pocket drug costs for Medicare beneficiaries, insurers are poised to significantly increase monthly premiums, with average bids for Part D plans set to rise until 2025. It is expected to triple in the next year.
In response to potential voter backlash, the Centers for Medicare and Medicaid Services (CMS) has instituted a three-year “proven trial” that subsidizes these premiums, with the goal of keeping these premiums artificially low. project has started.
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The Congressional Budget Office has released a fiscal analysis of the Biden-Harris Administration’s Medicare Part D Premium Stabilization Demonstration Program. (license/image)
The nonpartisan Congressional Budget Office (CBO) this week released a fiscal analysis of the Biden-Harris administration’s Medicare Part D Premium Stabilization Demonstration Program, showing that it could cost taxpayers more than $21 billion over three years. We calculated that there is.
“It didn’t take long for Vice President Harris to violate her promise to ‘secure the #Medicare Trust Fund’ with @AARP,” the advocacy group Commitment to Older Adults wrote about X.
Stephen Moore, co-founder of the Heritage Foundation, called it “more highway robbery by Democrats’ Medicare Trust Fund.”
“Seniors please be careful,” he added.
Some Republicans argue that the program launched by CMS is aimed at artificially lowering premiums for seniors, which have soared amid rising costs caused by Democratic policies.
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Vice President Kamala Harris speaks on the fourth day of the Democratic National Convention at the United Center in Chicago on August 22, 2024. (Photo by Melina Mara/The Washington Post via Getty Images)
“When Democrats unilaterally enacted sweeping changes to Medicare two years ago, they imposed new costs and fewer choices on seniors. This bipartisan CBO analysis finds that CMS’s cost-shifting plan , confirming that this is a dishonest election-year gimmick to cover up these results,” a senior party official said. Sen. Chuck Grassley (R-Iowa), chairman of the Appropriations Committee, said in a statement.
“Rather than come to the table and duly address partisan mistakes, the Biden-Harris administration poured taxpayer dollars into a problem it created and imposed tens of billions more on the American people.” he said.
FOX Business was unable to obtain a response from the Harris campaign by publication deadline.
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