Treasury Dept. Approves $3 Billion Transfer to Insurance Companies that Congress Denied
A letter from House Ways and Means Chairman Paul Ryan (R-WI) demands an explanation from the Treasury Department on why it allowed $3 billion in payments to ObamaCare insurance companies that Congress never approved.
In a well-documented piece, Philip Klein gives a disturbing summary of the Obama administration deliberately refusing to follow the law.
“At issue are payments to insurers known as cost-sharing subsidies,” writes Klein. “These payments come about because President Obama’s healthcare law forces insurers to limit out-of-pocket costs for certain low income individuals by capping consumer expenses, such as deductibles and co-payments, in insurance plans. In exchange for capping these charges, insurers are supposed to receive compensation.”
Agitated by the predictable consequences of their tax and regulatory agenda, liberals and the Obama Administration condemn the "economic patriotism" of "corporate deserters" who seek refuge by relocating operations beyond U.S. borders.
This week, Burger King became just the latest target of their misplaced wrath, after announcing its acquisition of Canadian restaurateur Tim Hortons Inc. and that it will move its corporate headquarters to that lower-tax locale. Senator Sherrod Brown (D - Ohio) went so far as to advocate a consumer boycott.
One problem: …
"The IRS's inspector general confirmed Thursday it is conducting a criminal investigation into how Lois G. Lerner's emails disappeared, saying it took only two weeks for investigators to find hundreds of tapes the agency's chief had told Congress were irretrievably destroyed. Investigators have already scoured 744 backup tapes and gleaned 32,774 unique emails, but just two weeks ago they found an…[more]