WASHINGTON – Sen. John Kennedy today introduced the Seniors Saving on Insulin Act and the Vital Medication Affordability Act to help make insulin and epinephrine more affordable for Louisianians.

“Hundreds of thousands of Louisianians rely on lifesaving medications like insulin and epinephrine, and 12 percent of adults in our state have diabetes. Our people need access to affordable medications, especially when our state is recovering from historic storms. My bills would make insulin more affordable for seniors on Medicare and ensure that key health centers pass along discounts on insulin and epinephrine to patients,” said Kennedy. 

The Seniors Saving on Insulin Act would codify as law the Part D Senior Savings Model, which provides Medicare patients with plans that offer affordable insulin. The bill would ensure that Medicare patients could buy a month’s supply of insulin at no more than $35. One-third of Medicare users have diabetes, and more than 3 million Medicare patients rely on insulin. Research has shown that affordable medications make patients more able to care for their health consistently, which improves health outcomes and lowers health care costs in the long term.  

The Vital Medication Affordability Act would require federally qualified health centers (FQHCs), which serve poor, uninsured and rural residents, to pass along their savings on insulin and epinephrine to their patients. FQHCs can purchase prescription drugs at a discount through the 340B Drug Pricing Program. Kennedy’s legislation would make FQHCs offer these discounts on insulin and epinephrine to many patients who otherwise could not afford these medications.

Text of the Seniors Saving on Insulin Act is available here.

Text of the Vital Medication Affordability Act is available here.

WASHINGTON – Sen. John Kennedy (R-La.) today joined Sen. Bill Hagerty (R-Tenn.) in introducing the Consumer Financial Protection Bureau (CFPB) Accountability Act of 2021 to bring fiscal accountability to the CFPB. The legislation comes as Senate Democrats advanced the nomination of Rohit Chopra to be CFPB Director for final confirmation.

“The bureaucratic state is always trying to increase its power and decrease its accountability to the Americans it’s supposed to serve. CFPB bureaucrats don’t rely on elected officials in Congress for funding—which means the bureau isn’t accountable to American taxpayers in key ways. That needs to change,” said Kennedy.

“Should Democrats choose to confirm President Biden’s radical nominee, who has dodged questions throughout the confirmation process and is likely to continue the anti-job-creation, unaccountable CFPB conduct of the Obama Administration, the CFPB must be required to go through the regular congressional appropriations process to ensure public accountability. As a lifelong businessman, protecting consumers in the financial marketplace is important, but handing vast government regulatory power to an agency that is not accountable to the American people’s elected representatives is improper. Americans deserve to have far greater input in this agency,” said Hagerty.

Currently, the Federal Reserve is responsible for funding the CFPB. This unusual arrangement allows the CFPB to avoid fiscal accountability to elected officials in Congress. This bill would make the CFPB accountable to taxpayers by requiring Congress, not the Federal Reserve, to fund the bureau’s budget.

WASHINGTON – Sen. John Kennedy (R-La.) today joined Sens. Bill Cassidy (R-La.), Bob Menendez (D-N.J.) and fellow senators in calling on Federal Emergency Management Agency (FEMA) Administrator Deanne Criswell to delay a government plan that would hike Louisianians’ flood insurance premiums.

“We write to urgently request that you delay the new Federal Emergency Management Agency (FEMA) National Flood Insurance [Program] (NFIP) rating system known as Risk Rating 2.0, which is scheduled to go into effect for new policies on October 1, 2021. . . . we have serious concerns [about how] the program has thus far been constructed, presented and begun to be implemented and more significantly troubled by reports that nearly 80% of policyholders will see premium increases nationwide,” the senators wrote.

“It is our understanding that internal analysis shows that FEMA estimates roughly 900,000 policyholders, or nearly 20% of all policyholders, will drop out of the program over the next 10 years in large part due to unaffordable premiums under Risk Rating 2.0. In light of this information, we are extremely concerned about the administration’s decision to proceed forward with the implementation of this program without first determining an alternative that avoids the prospect that hundreds of thousands of families will be inclined to forfeit flood insurance on their homes,” the senators explained.

“We are entering the height of hurricane season, and tens of thousands of Americans have already faced destruction of their homes and livelihoods by Hurricane Ida alone. Tragically, this historic storm led to at least 84 deaths and caused tens of billions in unmet needs and property damage,” the senators continued.

The senators expressed several other concerns about Risk Rating 2.0, including the likelihood that NFIP providers would be overburdened with the responsibility of learning a new, untested rating system and the possibility that the NFIP’s reputation could suffer, hurting the integrity and long-term solvency of the program.

“Given these uncertainties, we request that you delay implementation of Risk Rating 2.0 immediately in order to provide time for full Congressional oversight, coordination and correct and transparent implementation,” the senators concluded.

Sens. Chuck Schumer (D-N.Y.), Cory Booker (D-N.J.), Cindy Hyde-Smith (R-Miss.), Kirsten Gillibrand (D-N.Y.), Marco Rubio (R-Fla.) and Roger Wicker (R-Miss.) also signed the letter.

Kennedy has consistently opposed Risk Rating 2.0:

• On August 5, 2021, Kennedy wrote to FEMA asking questions about the transparency, affordability and efficiency of Risk Rating 2.0.
• On June 17, 2021, Kennedy questioned David Maurstad, Senior Executive of the NFIP at FEMA, about Risk Rating 2.0.
• On June 7, 2021, Kennedy introduced the Flood Insurance Fairness Act to stop the Biden administration from unilaterally making changes to the National Flood Insurance Program that would raise premiums for Louisianians affected by flooding.
• On April 16, 2021, Kennedy wrote to Chairman Sherrod Brown (D-Ohio) of the Senate Banking Committee, requesting a hearing to examine Risk Rating 2.0.

Kennedy has also introduced legislation to extend the National Flood Insurance Program for one year, to Sept. 30, 2022. Without that extension, the NFIP will expire at the end of this month. Kennedy’s efforts to extend the NFIP in 2018 and 2019 both became law.

The letter is available here.

WASHINGTON – Sen. John Kennedy (R-La.) today joined Sen. Catherine Cortez Masto (D-Nev.) in introducing the Filing Relief for Natural Disasters Act to provide relief for taxpayers in states that have issued state-level disaster declarations. Currently, the Internal Revenue Service (IRS) has the authority to postpone tax filing deadlines following a presidentially-declared federal disaster, but not following the declaration of a state-level emergency.

Sen. Chris Van Hollen (D-Md.) also cosponsored the legislation.

“It seems like Louisianians have been hit with all the storms nature has to offer, and we need all the help we can get to recover, and that includes extensions for filing taxes. Since Louisiana can’t always rely on Washington to get us the relief we need when we need it, this bill would make sure that Louisianians get the tax extensions necessary for rebuilding after our state declares a natural disaster. I’m thankful to partner with Sen. Cortez Masto on this effort,” said Kennedy.

“Nevadans shouldn’t be denied tax relief after experiencing wildfires just because the state doesn’t receive a federally recognized disaster declaration. Nevadans across the state have been affected by major wildfires in the west, and my legislation would ensure that any taxpayer feeling the impact of a natural disaster can access vital tax relief so our communities are able to recover,” said Cortez Masto.

 “When disaster strikes, Marylanders need immediate financial flexibility to rebuild and recover. This legislation will help ensure that—even when a federal disaster has not been declared. I’ll be working with my colleagues to pass this common-sense, bipartisan bill,” said Senator Van Hollen.

The Filing Relief for Natural Disasters Act would allow the governor of a state or territory to extend a federal tax filing deadline following a state-declared emergency or disaster instead of waiting for a federally-declared disaster. This means that states would have the ability to provide tax relief independent of the federal government’s involvement in an emergency or natural disaster.