By completing the transition begun years ago to a premium-support program, Medicare would assist seniors in buying the affordable health coverage they want and need from a marketplace that would have been freed to be more competitive. Similar approaches in Medicare Part D and the Federal Employees Health Benefits Plan (the plan Congress enjoys) have resulted in lower health care costs and higher value in the delivery of care.
This budget finally addresses one of the biggest problems with the healthcare industry – ever-rising costs. Sen. Lee proposes changing the outdated tax treatment of health insurance so that every American receives a tax credit (equal to what they get today in the workplace) to buy and own health coverage that meets individual needs.
This can be done without federal mandates that intrude upon the moral, religious and philosophical sensibilities of the American public. At the same time, the Lee budget resolution redesigns the federal tax code into an expenditure tax that has a single flat rate. That’s right: a single, simple and fair tax system.
The plan encourages more savings, benefiting every American who dreams of going to college, buying a house or starting a business. Greater savings and a less punitive business tax also mean more resources to invest and more opportunities to invest in our economy. That also means more jobs for Americans who are out of work and better wages for those who have jobs.
By substantially reducing the size and scope of the federal government, Lee’s plan rightfully moves government towards its core responsibilities that fit within the Constitution and original intent of our Founding Fathers.