| 00:00:00 | EITHER FLEXIBLE SPENDING ACCOUNTS OR HEALTH SAVINGS ACCOUNTS. |
| 00:00:04 | THESE ARE HARDWORKING AMERICAN FAMILIES WHO PLAN AHEAD FOR THEIR HEALTH CARE. |
| 00:00:07 | THEY'RE FOLKS THAT DON'T WANT TO BE A DRAIN ON THE HEALTH CARE SYSTEM. |
| 00:00:12 | BUT THE FEDERAL GOVERNMENT HAS THE AUDACITY TO LOOK AT THESE FUNDS FROM THESE FAMILIES THAT HAVE SET ASIDE FOR THEIR HEALTH NEEDS AND SEE THIS AS MONEY FOR THE GOVERNMENT'S TAKING. |
| 00:00:20 | WE NEED TO BE REWARDING THESE PEOPLE, NOT SEEING THEM AS A REVENUE SOURCE TO PAY FOR OBAMACARE. |
| 00:00:29 | BUT THE GOVERNMENT TAKEOVER OF HEALTH CARE IS GOING TO PUNISH THEM AND ENCOURAGE THEM TO USE MORE EXPENSIVE TREATMENT OPTIONS. |
| 00:00:34 | THE BILL WE ARE CONSIDERING WILL UNDO PURCHASE -- THE BAN ON PURCHASING OVER THE COUNTER MEDICATIONS. |
| 00:00:47 | IT WILL ALLOW FAMILIES TO CASH OUT UP TO $500 IN THEIR UNUSED F. |
| 00:00:52 | S.A. BALANCES AT THE END OF THE YEAR AS REGULAR TAXABLE INCOME. |
| 00:00:55 | AND IT WILL REPEAL A 2. |
| 00:01:03 | 3% TAX IMPOSED ON THE SALE OF MEDICAL DEVICES. |
| 00:01:05 | WITH THILL MAKE -- THIS TAX WILL MAKE HEALTH CARE MORE EXPENSIVE, BE PASSED DOWN TO THE CONSUMER AND IT'S ALREADY COSTING INNOVATION AND JOBS IN THE MEDICAL DEVICE INDUSTRY. |
| 00:01:12 | WE APPLAUD, I APPLAUD, THE WAYS AND MEANS COMMITTEE FOR THEIR WORK ON THIS LEGISLATION AND ENCOURAGE MY COLLEAGUES ON BOTH SIDES OF THE AISLE TO PASS NOT ONLY THE RULE BUT SUPPORT THE UNDERLYING LEGISLATION. |
| 00:01:25 | WITH THAT, I YIELD BACK THE BALANCE OF MY TIME. |
| 00:01:28 | THE SPEAKER PRO TEMPORE: THE GENTLEMAN YIELDS THE SPEAKER PRO TEMPORE: THE GENTLEMAN FROM COLORADO. |
| 00:01:33 | MR. |
| 00:01:34 | POLIS: IF WE DEFEAT THE PREVIOUS |
Mr. NUGENT. Mr. Speaker, I first want to thank my friend, Mr. Scott, and fellow Rules Committee member, for allowing me time to speak on this important issue.
This rule brings to the floor a series of health issues that I hear about every day from constituents back home. About 46 million Americans have either a flexible spending account or a health savings account. These are hardworking American families that plan ahead for their health care. They're folks who don't want to be a drain on the health care system. But the Federal Government has the audacity to look at these funds from these families that have put aside for their health needs and see this as money for the government's taking. We need to be rewarding these people, not seeing them as a revenue source to pay for ObamaCare. But the government takeover of health care is going to punish them and encourage them to use more expensive treatment options.
The bill we are considering today will undo ObamaCare's limitation on purchasing over-the-counter medications, freeing both health savings accounts and physicians' offices from these new, burdensome regulations that go into effect.
[Time: 13:00] It will allow families to cash out up to $500 in their unused FSA balances at the end of the year as regular taxable income, and it will repeal a 2.3 percent tax imposed on the sale of medical devices. This tax will make health care more expensive. It will be passed down to the consumer, and it's already costing innovation and jobs in the medical device industry.
I applaud the Ways and Means Committee for their work on this legislation and encourage my colleagues on both sides of the aisle to pass not only the rule, but support the underlying legislation.