- Title: Trump's health pick defends investments at U.S. Senate hearing
- Date: 24th January 2017
- Summary: WASHINGTON, D.C., UNITED STATES (JANUARY 24, 2017) (UNRESTRICTED POOL) U.S. REPRESENTATIVE, TOM PRICE, PRESIDENT DONALD TRUMP'S NOMINEE FOR HEALTH AND HUMAN SERVICES SECRETARY, ENTERING A SENATE HEARING ROOM WIDE OF SENATE HEARING ROOM (SOUNDBITE) (English) U.S. REPRESENTATIVE, TOM PRICE, PRESIDENT DONALD TRUMP'S NOMINEE FOR HEALTH AND HUMAN SERVICES SECRETARY, SAYING: "If confirmed, my obligation will be to carry to the Department of Health and Human Services both an appreciation for the bipartisan, team-driven policy making and what has been a lifetime commitment to improving the health and well-being of the American people. That commitment extends to what I call the six principles of health care: affordability, accessibility, quality, responsiveness, innovation and choices." WIDE OF SENATE HEARING ROOM (SOUNDBITE) (English) U.S. REPRESENTATIVE, TOM PRICE, PRESIDENT DONALD TRUMP'S NOMINEE FOR HEALTH AND HUMAN SERVICES SECRETARY, SAYING: "What I've always said about preexisting conditions is that nobody in a system that pays attention to patients, nobody ought to be priced out of the market for having a bad diagnosis. Nobody. That's a system, again, that may work for insurance companies, may work for government, but it doesn't work for patients." (SOUNDBITE) (English) RON WYDEN, DEMOCRATIC U.S. SENATOR FOR OREGON, AND RANKING MEMBER OF THE U.S. SENATE COMMITTEE ON FINANCE, IN AN EXCHANGE WITH U.S. REPRESENTATIVE, TOM PRICE, PRESIDENT DONALD TRUMP'S NOMINEE FOR HEALTH AND HUMAN SERVICES SECRETARY,: WYDEN: "And you were sitting at the time on committees that have jurisdiction over major health care programs and trade policy. Yes or no. Doesn't this show bad judgment?" PRICE: "Well, if what you said was true…" WYDEN: "We have a paper trail, Congressman, we have a paper trail for every comment I've made. Yes or no, doesn't this show bad judgment?" PRICE: "No." (BACK TO WYDEN FOR HIS REACTION) SHERROD BROWN, DEMOCRATIC U.S. SENATOR FOR OHIO, SPEAKING ON THE PANEL (SOUNDBITE) (English) RON WYDEN, DEMOCRATIC U.S. SENATOR FOR OREGON, AND RANKING MEMBER OF THE U.S. SENATE COMMITTEE ON FINANCE, SAYING: "Even if some of those trades were not made at his direction, he would have been made aware of them when he filed his periodic transaction reports with the House of Representatives. Set aside the legal issues, it is hard to see this as anything but a conflict of interest and an abuse of position." WIDE OF SENATE HEARING ROOM (SOUNDBITE) (English) RON WYDEN, DEMOCRATIC U.S. SENATOR FOR OREGON, AND RANKING MEMBER OF THE U.S. SENATE COMMITTEE ON FINANCE, SAYING: "The head of HHS, the Health and Human Services Department, is the captain of the Trump health care team. Now, the congressman says patients should be at the center of care. I agree with that. When I look however at the congressman's proposals, I don't see the patient at the center of health care. I see money and I see special interests at the center of health care." (SOUNDBITE) (English) JOHNNY ISAKSON, REPUBLICAN U.S. SENATOR FOR GEORGIA, SAYING: "I feel like I've been asked to be a character witness in a felony trial in the sentencing phase of a conviction." U.S. REPRESENTATIVE, TOM PRICE, PRESIDENT DONALD TRUMP'S NOMINEE FOR HEALTH AND HUMAN SERVICES SECRETARY, SEATED AND LISTENING WIDE OF SENATE HEARING ROOM
- Embargoed: 7th February 2017 17:11
- Keywords: U.S. President Donald Trump health secretary nominee Tom Price Senate confirmation hearing Obamacare healthcare
- Location: WASHINGTON, D.C., UNITED STATES
- City: WASHINGTON, D.C., UNITED STATES
- Country: USA
- Topics: Government/Politics
- Reuters ID: LVA00160FYJ47
- Aspect Ratio: 16:9
- Story Text:President Donald Trump's nominee to run the U.S. Department of Health and Human Services faced hard questions from a U.S. Senate panel on Tuesday (January 24) about his personal stock investments and proposals to dismantle Obamacare.
Representative Tom Price, a Georgia orthopaedic surgeon who has been in politics for more than 20 years, was chosen by fellow Republican Trump to head an agency that manages scores of healthcare programs.
The Wall Street Journal last month reported that Price had traded more than $300,000 worth of shares in health-related companies over the past four years while backing legislation that potentially could affect those companies' stocks.
Price invested in biotech firm Amgen Inc., insurer Aetna Inc. and drugmakers Bristol-Myers Squibb Co. , Eli Lilly & Co. and Pfizer Inc., the Journal said, citing stock trade filings that Price made with Congress.
Senator Chuck Schumer, leader of the Senate Democrats, has called on the Office of Congressional Ethics to investigate whether Price violated a 2012 law barring members and employees of Congress from using non-public information for personal gain.
"Even if some of those trades were not made at his direction, he would have been made aware of them when he filed his periodic transaction reports with the House of Representatives. Set aside the legal issues, it is hard to see this as anything but a conflict of interest and an abuse of position," said Senator Ron Wyden, the Democratic U.S. Senator for Oregon and ranking member of the Senate finance committee.
Last week, Trump transition spokesman Phil Blando described as "demonstrably false" any allegations that Price introduced legislation for self-serving reasons. He said Price has a diversified portfolio with Morgan Stanley in a broker-directed account that includes health and non-health care stocks.
"I feel like I've been asked to be a character witness in a felony trial in the sentencing phase of a conviction," said Republican U.S. Senator for Georgia, Johnny Isakson, while introducing Price to the committee near the start of the hearing.
The Department of Health and Human Services runs the Medicare program for the elderly, Medicaid for the poor and President Barack Obama's Affordable Care Act, which was enacted in 2010 and brought health insurance coverage to millions of Americans who previously lacked it.
"If confirmed, my obligation will be to carry to the Department of Health and Human Services both an appreciation for the bipartisan, team-driven policy making and what has been a lifetime commitment to improving the health and well-being of the American people. That commitment extends to what I call the six principles of health care: affordability, accessibility, quality, responsiveness, innovation and choices," Price told the U.S. Senate Committee on Finance in prepared remarks.
Price has been a leading critic of Obama's hallmark policy achievement, Obamacare. In a 2011 speech to the Association of American Physicians and Surgeons, Price said he was "for every single piece of legislation that gets the federal government out of your back pocket and out of your exam room."
His proposed Obamacare alternative involves a universal tax credit that critics say would not cover premium costs and out-of-pocket costs of health insurance in much of the country.
Congressional Republicans have been moving to repeal Obamacare, despite not having a plan to replace it. Trump muddied the outlook for that when he told the Washington Post in an interview published on Sunday his aim is to replace Obamacare with a plan with "insurance for everyone."
Trump did not give the Post specifics about his proposals, but said his plan was nearly finished and he was ready to unveil it alongside the leaders of the Republican-controlled Congress.
Price was likely to be approved for the post by the Republican-controlled Senate. - Copyright Holder: POOL (CAN SELL)
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