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Koch Brothers Archives — Protect Our Care

Koch Brothers Launch Latest Salvo in the Republican War on Montanans’ Care

Washington, D.C. – In response to Americans for Prosperity releasing a new, misleading ad against Sen. Jon Tester, Protect Our Care Campaign Director Brad Woodhouse released the following statement:

“The Koch Brothers and their Republican allies in Congress have been waging a war on health care that will raise our costs, take away coverage, and gut protections for those with pre-existing conditions. Thanks to the Republican tax bill, pharmaceutical and insurance companies are getting billions of dollars in tax breaks while many Montana families will see their premiums go up an average of $2,100 this fall, and 46,000 Montanans could lose coverage altogether. Enough is enough: it’s time for the Koch brothers and their allies in Congress to stop their war on Montanans’ health care.”

BACKGROUND

INSURANCE COMPANIES AND PHARMACEUTICAL COMPANIES GET BILLIONS OF DOLLARS FROM THE REPUBLICAN TAX BILL

The Republican Tax Bill Is A $10 Billion Giveaway For Insurance Companies.  An Axios analysis found 21 health insurance companies collectively expected to gain $10 billion in tax breaks in 2018 alone. Most of the money is being used for buybacks, dividends, acquisitions and paying down debt — with just a sliver for one-time employee bonuses, research and internal investments. [Axios, 3/5/18]

The Republican Tax Bill Is A $50 Billion Windfall For Pharmaceutical Companies.  According to an Axios analysis, the pharmaceutical industry is using a large portion of its savings from the Republican corporate tax break to boost its stock prices. Nine drug companies are spending a combined $50 billion on new share buyback programs, far outstripping investments in employees or drug research and development. [Axios, 2/22/18]

THE REPUBLICAN TAX BILL WILL RAISE PREMIUMS AND TAKE COVERAGE AWAY FROM MONTANANS

The Republican Tax Bill Means Higher Costs, Especially for Older Montanans. A Center for American Progress estimate shows that in Montana, family premiums in the marketplace will increase on average by $2,100 in 2019. Older Montanans would not be spared. The AARP estimates a 64-year-old in Montana will have to pay $1,551 more in premiums because of health repeal, essentially an age tax for people over 50. [Center for American Progress, 11/16/17, AARP, 11/21/17]

The GOP Tax Bill Will Cost 46,000 Montanans Their Health Coverage. As a result of the tax bill, an estimated 46,000 Montanans will lose coverage by 2025. [Center for American Progress, 11/16/17]

REPUBLICAN SABOTAGE WILL RAISE THE COST OF HEALTH CARE FOR MONTANANS

Urban Institute: Premiums For Montanans Will Increase An Average Of 19.8 Percent Next Year. An Urban Institute study found that, “the actions President Trump and Congressional Republicans have taken to sabotage the health care markets will artificially inflate individual insurance premiums by an average of 19.8 percent in Montana for 2019.” [Urban Institute, 3/14/18]