Democratic Party of Georgia

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SHOT/CHASER: The Price is Wrong Edition

 

Release:  Wednesday, September 20, 2017                                                                                     

 

SHOT/CHASER: The Price is Wrong Edition

 

SHOT: HHS Secretary Tom Price spent an estimated $60,000 on five private jet excursions, breaking precedent set by his predecessors who flew commercial.

 

CHASER: As a Georgia Congressman, Price decried the use of private jets, saying “This is just another example of fiscal irresponsibility run amok in Congress right now.”

 

“Tom Price spent more money on just five trips than the median household income for a Georgia family. This is an affront to the hundreds of thousands of Georgians who will lose health care coverage if Price and Trump get their way and repeal the Affordable Care Act.” – Michael Smith, Communications Director

 

CNBC – Tom Price, who reportedly used costly private jets, once slammed government planes as ‘fiscal irresponsibility run amok’

 

  • Health and Human Services Secretary Tom Price took five private jets for official business last week at an estimated cost of at least $60,000, according to Politico.
  • In 2009, Price slammed House Democrats for authorizing funding for private jets.
  • Price has also backed the Trump administration’s proposed cuts to the HHS budget.

 

Health and Human Services Secretary Tom Price, who reportedly took five separate private jet flights for government business last week, once slammed Congress for authorizing funding for private planes.

Price, a fiscal conservative who has long pledged spending discipline, took the flights at an estimated cost of at least $60,000, according to Politico. The travel included an estimated $25,000 round trip from Washington to nearby Philadelphia.

The two HHS secretaries who served prior to Price took commercial flights while in the continental United States, the news outlet said.

Price had a very different outlook on government spending for private planes while serving as a congressman from Georgia. In a 2009 CNBC interview, he criticized House Democrats for trying to spend $550 million on eight passenger jets.

He said a scaled-back request of $220 million for four jets also went too far.

“I think we’ve made it halfway of where we ought to and that is cut it from eight to four jets,” Price said at the time. “Now we need to cut it from four jets to zero jets. This is just another example of fiscal irresponsibility run amok in Congress right now.”

HHS did not immediately respond to CNBC’s request to comment on this article.

Price’s flights last week cost tens of thousands of dollars more than commercial travel for the same schedule would have cost. He went to Philadelphia for a Q&A session with the CEO of Athenahealth and visited community health centers in both New Hampshire and Pennsylvania, Politico said, citing internal documents.

It is unclear if he took private flights for other official business since joining the Trump administration.

Price also backed an 18 percent HHS budget cut proposed by the Trump administration for fiscal 2018. He was expected to present a plan to overhaul the agency’s structure to the White House this month, Politico reported.

 

 

DPG Statement on Price Confirmation

Release:  Friday, February 10, 2017                                                                       

Atlanta, GA – Democratic Party of Georgia Chair DuBose Porter issued the following statement on the confirmation of Congressman Tom Price to serve as HHS Secretary.

“Republicans just doubled-down on their promise to privatize Medicare and dismantle the Affordable Care Act. This founding member of the Tea Party Caucus—who is also associated with one of the most fringe medical groups on record—co-sponsored legislation to ban stem cell research and outlaw abortion, voted against the Lilly Ledbetter Fair Pay Act, and has used his office to undermine the wellbeing and economic security of persons with disabilities and the elderly.

“Price—just like Donald Trump—is always looking out for number one. He cashed in on a corrupt sweetheart deal, purchased stock in companies he would later draft beneficial legislation for, and wielded his influence for personal profit like it was a cheap side hustle.

“Democrats will continue champion policies that secure the right to affordable healthcare for everyone—including the expansion of Medicaid here in Georgia. And you can bet your bottom dollar that we will hold Price, Trump, and the rest of the Swamp Cabinet accountable.”

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Questions Remain Unanswered From Price Ahead of Tuesday’s Senate Committee on Finance Hearing

Release:  Monday, January 23, 2017

Atlanta, GA – Tomorrow, Trump HHS pick and Georgia Congressman Tom Price will face a second round of questioning during a confirmation hearing with the Senate Committee on Finance. Price struggled to answer questions surrounding the hundreds of thousands of dollars in health care company stocks he traded while pushing bills that could have affected those very stocks during last week’s Senate hearing.

Price also failed to articulate both his own and the Trump Administration’s plan to replace the Affordable Care Act.

“Almost two months after being tapped to head HHS, we’re still waiting for answers from Rep. Price on these serious allegations of insider trading and his plan to replace Obamacare. What we do know is that Price has vowed to privatize Medicare within the first year of this administration. He’s vowed to repeal the ACA, leaving millions without health insurance. He’s voted to allow discrimination against employees for reproductive decisions and opposed LGBTQ nondiscrimination laws. Tom Price has a shady record, holds radical views on health care, and seems to be more concerned with his own bottom line than the wellbeing of Americans.” – Michael Smith, Communications Director

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Huffington Post – Democrats Want More Info On Tom Price’s Stock Accounts After Insider Trading Questions

Roll Call – HHS Nominee Tom Price, Staff Aided Donors in Agency Battles

Kaiser Health News – Trump’s HHS Pick Favored Drugmakers, Device Makers And Doctors

Washington Post – Why one expert says Tom Price’s stock deals ‘may very well have’ broken the law

 

New York Times – The Republican Health Care Con

Tom Price’s Latest Corruption Scandal Explained

Summary

  • Congressman Tom Price is under fire for yet another serious example of corruption: using his congressional office to pad his own pocket.
  • In this latest example, Rep. Price bought shares in the medical devices company Zimmer Biomet.
  • Less than a week after the purchase, he introduced legislation that would boost the company’s bottom line.
  • He spent a year and a half lobbying the Department of Health and Human Services for regulation changes that would also profit the company – and stockholders like himself.
  • This is not the only example of corruption. In fact, the Wall Street Journal reported that Rep. Price traded over $300,000 in healthcare company stocks while using his office to advocate for legislation that could have impacted those stock prices and lined his pockets with cash.

Latest Tom Price Corruption Scandal

 

March 2016: Tom Price Bought Up To $15,000 Of Shares In Medical Device Manufacturer Zimmer Biomet “Rep. Tom Price last year purchased shares in a medical device manufacturer days before introducing legislation that would have directly benefited the company, raising new ethics concerns for President-elect Donald Trump’s nominee for Health and Human Services secretary. Price bought between $1,001 to $15,000 worth of shares last March in Zimmer Biomet, according to House records reviewed by CNN.” [CNN,1/16/17]

 

Less Than A Week Later Introduced Legislation To Delay A Pending CMS Regulation That Analysts Warned Would Hurt Zimmer Biomet “Less than a week after the transaction, the Georgia Republican congressman introduced the HIP Act, legislation that would have delayed until 2018 a Centers for Medicare and Medicaid Services (CMS) regulation that industry analysts warned would significantly hurt Zimmer Biomet financially once fully implemented.” [CNN, 1/16/17]

 

Zimmer Biomet Is One Of The World’s Leading Manufacturers Of Knee And Hip Implants, And Would Have Been One Of The Companies Hit Hardest By A CMS Rule Directly Changing Payments For Such Procedures. “Zimmer Biomet, one of the world’s leading manufacturers of knee and hip implants, was one of two companies that would have been hit the hardest by the new CMS regulation that directly impacts the payments for such procedures, according to press reports and congressional sources. After Price offered his bill to provide Zimmer Biomet and other companies relief from the CMS regulation, the company’s political action committee donated to the congressman’s reelection campaign, records show.” [CNN, 1/16/17]

Zimmer Biomet Would Have Been Hit Hard By A New CMS Regulation Changing Payments For Hip And Knee Implants Through Medicare, As Hip And Knee Implants Made Up 60 Percent Of The Company’s Revenue. “And over the past year-and-a-half, Price raised objections to the CMS regulation that proposed major changes to how providers and manufacturers are paid and reimbursed for hip and knee implants through Medicare. But medical device manufacturers, in particular, were poised to be hit the hardest by the new regulation, according to industry officials and congressional sources. And that posed a significant threat to Zimmer Biomet, which bills itself as a worldwide leader in hip and knee replacements. A report from trade publication Fierce Biotech last year said that the company’s hip and knee implants account for 60 percent of its revenue.” [CNN, 1/16/17]

September 2015: Tom Price Wrote To The Acting Administrator Of CMS Asking To Delay A Regulation Changing How Manufacturers Were Paid For Knee And Joint Implants, And Two Days Later Zimmer Biomet Donated To Price’s Campaign Committee. “And over the past year-and-a-half, Price raised objections to the CMS regulation that proposed major changes to how providers and manufacturers are paid and reimbursed for hip and knee implants through Medicare… In September 2015, Price spearheaded a letter to Andy Slavitt, the acting administrator of CMS, asking that the regulation be delayed because it ‘represents a significant change to our healthcare delivery system which could have a negative impact on patient choice, access and quality.’ Two days after the letter, Zimmer Biomet’s PAC cut Price’s reelection committee a check worth $1,000, according to campaign finance filings.” CNN, 1/16/17]

Three Months After Price Introduced Legislation To Delay A CMS Regulation, Zimmer Biomet’s PAC Cut Another Check To Price’s Campaign Committee. “When CMS didn’t listen to Price, the congressman unveiled his legislation to delay implementing the regulation until 2018, with the bill coming days after investing in the company [Zimmer Biomet], whose shares were worth $103.59 at the time. Three months after he introduced the bill, the company’s PAC cut Price’s campaign committee another $1,000 check, according to records.” [CNN, 1/16/17]

What We Already Knew

 

Price Traded Over $300,000 In Shares Of Health Companies As He Sponsored And Pushed Bills That Could Have Affected Those Companies’ Stock.  “President-elect Donald Trump’s pick to run the Health and Human Services Department [Price] traded more than $300,000 in shares of health-related companies over the past four years while sponsoring and advocating legislation that potentially could affect those companies’ stocks.” [Wall Street Journal, 12/22/16]

 

  • Since 2012, Price Traded Stock In About 40 Health, Pharmaceutical And Biomedical Companies, Including 12 When Congress Was In Session. “Rep. Tom Price, a Georgia Republican, bought and sold stock in about 40 health-care, pharmaceutical and biomedical companies since 2012, including a dozen in the current congressional session, according to a Wall Street Journal review of hundreds of pages of stock trades he filed with Congress.  In the same two-year period, he has sponsored nine and co-sponsored 35 health-related bills in the House.” [Wall Street Journal, 12/22/16]

 

  • Since 2012, Price Sponsored Nine Health Related Bills While Cosponsoring 35.“Rep. Tom Price, a Georgia Republican, bought and sold stock in about 40 health-care, pharmaceutical and biomedical companies since 2012, including a dozen in the current congressional session, according to a Wall Street Journal review of hundreds of pages of stock trades he filed with Congress.  In the same two-year period, he has sponsored nine and co-sponsored 35 health-related bills in the House.” [Wall Street Journal, 12/22/16]

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On Trump’s Alarming Pick of Price as HHS Secretary

Atlanta, GA – Today, Donald Trump announced his selection of Georgia Congressman Tom Price to serve as Health and Human Services Secretary. The decision to tap Price to lead HHS is yet another troubling indicator that a Trump Administration is shaping up to be one of the most extreme in generations.

Price has been one of the most outspoken foes of Obamacare, labeling the landmark legislation as a “disaster” and “tyranny.”

“You would be hard-pressed to find a more alarming or inappropriate pick for HHS than Tom Price. If confirmed, we would have a HHS Secretary with a lengthy record of hostility toward women, the LGBTQ community, and those in dire need of affordable health care. Price’s career of division and extremism casts serious doubt on his ability to protect the health and welfare of all Americans without bias.” – Michael Smith, Communications Director

On the Affordable Care Act, Tom Price—

Called for a full repeal “so that it no longer threatens the health and well-being of individuals, families, job creators and the nation’s health care system.” [Tom Price Press Release]

Defended the 2013 government shutdown over the ACA, saying “the goal that we ought to have is to make certain that the American people never have to live under this law.” [Fox News 2013]

Has a proposed replacement for the ACA that “arguably does less to protect sick people” than Paul Ryan’s plan. [VOX]

Price also:

Proposed turning Medicare into a voucher program. [Politico]

Voted against the reauthorization of the Violence Against Women Act.

Voted to defund Planned Parenthood and falsely claimed that “not one” woman did not have access to birth control. [The Atlantic] [Congress.gov]

Called the Supreme Court’s decision on marriage equality “a sad day for marriage.” [Tom Price Press Release]

Said of a gay rights bill that “he consequences of activity that has been seen as outside the norm are real and must be explored completely…” [Right Wing Watch]

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