Ordered. Id like to welcome everyone to this mornings hearing. Today, we will consider the nomination of dr. Tom price to be the secretary of the department of health and Human Services. And want to welcome dr. Price to the finance committee. I appreciate his willingness to in a position of this magnitude, especially at this particularly crucial time. Republicans in Congress Warned that the new health care law, basically, would harm patients, emilys and businesses. Too fine apine point on it, but we were right. That will address costs among other things. This will be an important endeavor. One that will and should get a lot of attention here today. But it should not be the sole focus of the next hhs soap secretary. Hhs has an annual budget of over 1 trillion. Let me repeat that. One department, 1 trillion. Hhs and purposes encompasses medicare and medicaid. Disease control and prevention, the National Institutes of whole, the federal Drug Administration and many others. This is no exaggeration to say that hhs affects the daily lives of more americans than any other part of u. S. Government. Believe that dr. Price has the experience and qualifications necessary to effectively lead this large and diverse set of agencies and many people share that view. He has had a tremendous , a wealth of experience in the practice of medicine, understands these progress process and has been a member of the house of representatives. Stronglyetaries support his nomination. Organizations who know his work, including the American Medical Association and most specialty groups, enthusiastically support him. The American Hospital association and other stakeholder groups do as well. Perhaps this Health Care Leadership council representing the broad swath of Health Care Provider that it does has said it is difficult to imagine capable careful of serving as the secretary of hhs and congressman tom price. Unfortunately, in the current political capable of serving as the secretary of environment, qualifications and endorsements from experts in Key Stakeholders sometimes dont seem to matter to some of our colleagues. At least that appears to be the case, as none of those who say they oppose dr. Prices nomination seem to be talking about whether he is qualified. Instead, we have heard grossly exaggerated and distorted attacks on his views and ethics. On top of that, we have heard complaints in the series of unreasonable demands revolving the confirmation prompts us. Process. My democratic friends have taken with this approach almost all of President Trumps cabinet nominees. As senate democrats, unprecedented efforts to derail the confirmation process and hasy new standards continued unabated. To that point, let me say this. I have been in the senate for years, in my record for being able to reach across the aisle is beyond any reasonable dispute. I have certainly done it with democrats on this committee. In fact, from time to time, i have taken lumps in conservative circles for working closely with my democratic colleagues. On some occasions, i have voted against confirming executive net , i haveh nominees who deferred to the occupants of the white house and choose allow them to choose who serves in their administration. I have taken lumps for that, who do. Brag. T bring this up to i really i bring this up because i want the people to know that i am serious that i am worried about what my colleagues are doing to the senate as an institution. Kurt courtesy among senators has been in decline for a number of years, but i never seen this level of rancor when it comes to fromng with the president an opposing party. I have never seen a party in the senate, from its leaders down, publicly commit to not only opposing virtually every nomination, but to attacking and maligning virtually every single nominee. Now let me be clear, i am not suggesting that the senate start rubbish rubberstamping nominee. Nor should i ask that they vote against their conscience or preferences out of respect for tradition or deference. What i am saying is that the same rules, processes, skirted courtesies and assumptions of good faith that have been a call ,ark hallmark of the senate especially this committee, should continue to apply regardless of who is president. If what we are seeing now is the new normal for every time control of the white house changes hands, the senate, quite frankly, would be a much lesser institution. Unfortunately, our committee has not been entirely immune to the of theoliticization nomination process. We saw that last week with a munition hearing. Aregret to say that we likely to see more of it today. I hope not. Case in point, i expect during todays hearing we are going to hear quite a bit about process and claims that dr. Prices nomination is being rushed and the nominee hasnt been fully vetted. These allegations are simply untrue. President trump announced his attempt intent to nominate dr. Price three weeks after the election. Dr. Price acquired tax returns and completed question on december 21. That was 35 days ago. And by any reasonable standard, that is sufficient time for a full and fair examination of the nominees record. By comparison, the Committee Held a hearing on the nomination of secretary sibelius, the democratic nominee, 16 days after she submitted her paperwork. For secretary burwell, it was 17 days. The time between the completion of dr. Prices file and his hearing has been more than that. More than that of the last two nominees, hhs secretaries combined. And by the way, both of those nominees received at least a few of the republican votes on this committee and on the floor. Outside of process demands, dr. Price has faced a number of unfair attacks on both his record as a legislator and his finances. On the questions surrounding finances, ill defer on any substantive discussion on how dr. Price can defend himself on what are distorted attacks. For now, i hope my colleagues do not invent new standards for finances, ethics, and disclosure that are different from those that have generally applied in the past. There is a saying about glass houses that might be applicable as well. With regard to dr. Prices views and voting record, i will say that virtually all the attempts ive witnessed to characterize dr. Prices views as being outside the mainstream have been patently absurd, unless the only ideas in the mainstream are those that endorsed the status quo on health care and our Entitlement Programs. In conclusion, i just want to note that the ugly partisan treatment of nominees and distortions of their records is a relatively new development on this committee. My hope is that we can begin to set a new standard here that we can all be proud of, and that we will work to reverse recent trends and have a fair and open discussion of the nominee and his qualifications. With that, i will turn to our distinguished Ranking Member senator wyden. , sen. Wyden thank you, mr. Chairman. Colleagues, the American Public has heard many promises about health care from the new administration. No cuts to medicare or medicaid. Nobody hurt by aca repeal. Insurance for everybody, much less expensive, much better. Congressman prices own record undercuts these promises. Im going just start with ethics and undisclosed assets. Congressman price owns stock in an australian biomedical firm called amino therapeutic. His first stock purchase came in 2013 after consulting representative chris collins. The companys top shareholder and a member of its board. In 2016, the congressman was invited to participate in a special stock sale called a private placement. The Company Offered a private placement to raise funds for testing on an experimental treatment it intends to put out for fda approval. Through this private placement, the congressman increased his stake in the company more than 500 . He has said he was unaware he paid a price below market value. It is hard to see how this claim passes the smell test. Company filings with the Australian Stock Exchange clearly state that this specific private placement would be made at belowmarket prices. The Treasury Department handbook on private placement states, they are offered only to sophisticated investors in a nonpublic manner. The congressman also said last week he declared the purchase himself, departing from what he said was typical practice. Then there was a matter of what was omitted from the congressmans notarized disclosures. The congressman stated it is congressmans estate is five times larger than the figure he reported to ethics officials when he became a nominee. He disclosed owning less than 50,000 of the innate stock. At the time the disclosure was filed, by my calculation, his shares had a value of more than 250,000. Today, his stake is valued at more than a halfmillion dollars. Based on the math, it appears that the private placement was excluded entirely from the congressmans financial disclosure. His companys fortunes could be affected directly by legislation and treaties that come before the congress. It also appears the congressmen failed to consult the House Ethics Committee following other trades of health care stock. That rose was required, as they are directly related to two bills he introduced and promoted. Even if some of those trades were not made at his direction, he would be made aware of them when he filed this periodic transaction report 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. Another key question on the finance committees biographical questionnaire is whether nominees have been investigated for ethics violations. The congressman has been the subject of two investigations stemming from fundraising practices. This was not disclosed. The committee needs to look into these matters before moving the nomination forward. Now to policy. On the Affordable Care act and the scheme known as repeal and run, the secret replacement plan is still hidden, but already the Administration Charges ahead with a broad executive order that endangers americans health. As a budget chairman, congressman price is the architect of repeal and run. If his repeal bill became law, 18 million americans lose their health care in less than two years. In one decade, you go from 26 million uninsured to 59 million. Repeal and run raises premiums 50 in less than two years. Costs skyrocket from there. The market for individuals to buy Health Insurance collapses. Nocost contraceptive coverage for millions of women, gone. By defunding planned parenthood, nearly 400,000 women would lose access to care almost immediately. Hundreds of thousands more would lose their opportunity to see the doctor they trust. The price plan takes america back to the dark days when health care was for the healthy and wealthy. His other proposals do not offer much hope that the damage will be undone. There is a big gap between the trump pledge of insurance for everybody and Great Health Care and the congressmans proposal. In another bill, the congressman the empowering patients first act the congressman brings back , discrimination against people with preexisting conditions such as pregnancy or heart disease. Insurers get the power to deny care and raise costs on those with preexisting conditions if they didnt maintain coverage. In effect, the bill says Insurance Companies could take patients money and skip out for paying on the care they need. The price bill also gives insurers the ok to reinstate lifetime limits on coverage and charge women higher rates because they are women. It gutted the tax benefit that help working people afford highquality coverage. It slashed minimum standards to protect patients by defining exactly what health plans have to cover. All this from a bill called empowering patients first . I have seen a lot of bills with ironic titles. This one, colleagues, takes the cake. Heres the constant. The congressmans proposals push new costs on to patients. Massive cuts to medicare were proposed in the price budget. Another example, in my view, the congress has a duty to uphold the promise of medicare. It is a promise in guaranteed benefits. The congressman advocated privatizing medicare, cutting it almost a halftrillion dollars. After his nomination, he said he wanted to turn the program into one with vouchers with the first six to eight months of the administration. He supports balanced billing. Seniors would have to cover extra charges beyond what medicare pays when they go to the doctor. More extra cost for seniors on a tight budget. In addition, the congressman calls for block granting and capping medicaid, which would shred a vital safety net for our most vulnerable. Medicaid insurers 74 Million People. More americans rely on medicaid to pay for nursing home care and homebased care than any other program. The program pays for nearly half of all births and covers millions of children. Its a critical source of Mental Health coverage and Substance Abuse treatment, vital at a time when our communities are battling the opioid epidemic. I close with just two additional points. If confirmed, the head of hhs is the captain of the Trump Health Care team. The congressman says that patients should be at the center of care. I agree with that. When i looked however, at the , congressmans proposals, i dont see the patient at the center of health care. I see money and i see special interests at the center of health care. Finally, let me make a point with respect to the process, and the comments of my good friend chairman hatch. Colleagues, the process here is exactly the same process. To a t, it is the process that applies to tom daschle, it applied to ron kirk. I will enter into the record a specific set of details about how this is the process that is exactly what was done on a bipartisan basis for 20 years, and i will make that part of the record. Thank you, mr. Chairman. Chairman hatch thank you, senator. Im pleased to hand over the introduction, my normal witness introduction to our colleague, the distinguished senator from georgia, senator isakson, who will introduce dr. Price. Senator isakson, please proceed. Sen. Isakson i enjoy being a part of this committee. I couldnt be prouder than to introduce tom price today. This is the second time i have gotten to introduce tom in the last week. The first time i was called, it was for the Health Committee, which i also serve on. And i was proud to do that, and i gave the best introduction i can possibly give based on a man i have known for 30 years. I know him as a family man, a legislator, a member of our community a great physician, and , a great friend. It was easy to do, but since last week things have changed. I feel like i have been asked to be a character witness in a felony trial in the sentencing phase of a conviction. The things that have been said need to be refuted, so i am going to take all the positive things and say them at the end, but try and again by saying there are a few things out there that need a perspective all the way around. I am proud that tom has filed his tax returns. A couple of the things that the Ranking Member said or from those hearings. Some of the things that came out of the memo last night about property taxes, those were one late tax payment in nashville, tennessee, one in washington, d. C. Late, not unpaid. Just late, and i have done that myself a couple of times. On immunotherapeutic, that was the disclosure he made. That is a normal thing. It is in the eyes of the beholder placement in terms of , what uss it as. Tom is a good man. He is a physician, an honorable man. I am proud to be here today not to defend him, because he doesnt need defending but to , praise him for the things he has done. I think it is important for all of us to look at a secretary nomination, whether it is secretary of defense, whether it is health and Human Services. What am i looking for in terms of this person . First of all i am looking for a , person who understands the american family. Tom is a great family man. His wife is here. Raise your hand, betty. Betty is a great lady and wife. Your son robert i guess is still in nashville, tennessee singing country music, right . He could not be there today, but Lamar Alexander appreciates that. Tom is active in his church and community and understands the needs of families and understands relationship of health care to a good family. Secondly, who would i ask to spend 1. 1 trillion of my money . That is how much tom will oversee at hhs. What i would look for in a person to handle that much money, i look for experience, and, has it in terms of the legislator. I look for someone who understands where the cost is going. Tom is the right person. I look for somebody i would trust with that amount of money even though i dont have it, but if it were mine. Third, does he understand health care . Let me tell you about tom and his medical practice. It is called resurgence orthopedics. Resurgence orthopedics is the consolidation of a number of small orthopedic terms around the state of georgia. The largest orthopedic provider in our state. Tom was one of the leading persons who pulled that together and in fact, ran the practice for a while himself. They are my doctors. 26 years ago, resurgence saved the surgeons saved my sons leg in a terrible automobile accident. Ive never forgotten what they did for him in a terrible crisis in our family. They are a great medical firm. He understands medicine. He has run a comprehensive medical program. Fourth, i want to understand if you know the legislative process. When the president calls tom an in and says we are going to , sell our package, tom has to have the ability to convince people that the administration is right. You dont want somebody going out there who has not been in to a legislative bidding before, who had been in the political process before. Tom has done that. He is the type of guy you trust to make the sale. Fifth, i want s