Senator Burr Highlights Importance of Medicare Sustainability for Retirees, Future Generations

Today, the Senate Finance Subcommittee on Fiscal Responsibility and Economic Growth held a hearing titled, “The Hospital Insurance Trust Fund and the Future of Medicare Financing.”

In his statement for the record, Senator Richard Burr (R-NC) highlighted the stark contrast between the Democrats’ harmful proposals to end Medicare as we know it and the Republicans’ efforts to maintain long-term sustainability of the program for future generations.  

Senator Burr’s submitted statement for the record:

“Thank you, Chair Warren, for holding this hearing. I think it is past time to have an honest conversation with the American people about the hard decisions that are needed to make Medicare sustainable for future generations. 

“It is my hope that this hearing will allow us to demonstrate the stark contrast between those who want to end Medicare as we know it, and those of us who want to save it.

“The Hospital Insurance Trust Fund, which finances Medicare Part A, will be depleted in 2026, at which time Part A payments will be drastically reduced. According to the Medicare trustees ’beneficiary access to health care services could be rapidly curtailed.’

“No one thinks this should be allowed to happen.

“This issue isn’t just looming on the horizon – it’s here. Benefits will be cut in just four short years if we fail to act.

“Rather than make false promises about benefit expansions or a so-called ‘Medicare-For-All’ program, we should be honest about what we can afford, and figure out how we’re going to save Medicare for those who are currently at or near retirement. 

“I look forward to using my remaining months in the Senate to further this critical conversation, and hope the rest of my Senate Finance Committee colleagues will join me in efforts to protect this program for generations to come.”