NEW DSCC AD: Kelly Ayotte Votes With Corporate Special Interests, Not New Hampshire

V/O: What’s Kelly Ayotte costing you?

GFX: What’s Kelly Ayotte costing you?

V/O: You’re paying more for prescription medicines.

GFX: Paying More

for Prescription

Medicines

Vote 105, 5/24/12

V/O: Kelly Ayotte blocked lower cost generic drugs.

GFX: Kelly Ayotte

Blocked

Lower Cost

Generic Drugs

Vote 105, 5/24/12

DRUG PRICES INCREASED EVERY YEAR SINCE 2010

From 2010-2015, List Prices For Brand-Name Drugs Increased, And In 2016 Drug Prices Increased By Double-Digit Percentages Since Beginning Of Year. “Makers have raised prices on brand-name drugs by double-digit percentages since the start of the year, according to interviews with executives at Express Scripts and CVS Caremark, two major drug-benefit managers. And a report last week by the research firm IMS Health found that in 2015, list prices for drugs increased more than 12 percent, in line with the trend over the five previous years.  ‘It used to be the drug companies only took one price increase a year,’ said Dr. Steve Miller, chief medical officer at Express Scripts. ‘Now what they’re doing is taking multiple price increases multiple times a year.’” [New York Times, 4/26/16]

·         Headline: “Drug Prices Keep Rising Despite Intense Criticism” [New York Times, 4/26/16]

AYOTTE VOTED AGAINST AMENDMENT HELPING CHEAPER GENERIC DRUGS GET TO MARKET SOONER

Ayotte Voted Against Amendment To Allow Generic Drug Makers To Share Part Of Market Exclusivity Period Given To Original Generic Patent Holder If It Entered Into A Delay Agreement. In May 2012, Ayotte voted against: “Bingaman, D-N.M., amendment no. 2111 that would allow companies that produce generic drugs to share some of the 180-day marketing exclusivity period given to the original generic patent holder if that holder enters into a delay agreement.” The amendment was rejected 28-67. [CQ, 5/24/12; S.Amdt. 2111 to S. 3187, Vote 105, 5/24/12]

·         Alliance For Retired Americans: Bingaman Amendment Would Prohibit Pay For Delay Agreements “That Delay Access To Generic Drugs.” “Senator Bingaman, D-NM, introduced an amendment to a drug company user fee bill that would prohibit brand name and generic drug companies from entering into agreements that delay access to generic drugs by the public.” [Alliance for Retired Americans, Congressional Voting Record, January 2012—January 2013]

o   Alliance For Retired Americans: “Studies Have Shown These ‘Pay For Delay’ Agreements Create Artificially High Drug Prices.” “Studies have shown these ‘pay for delay’ agreements create artificially high drug prices. The amendment failed 28-67. A YES vote is the pro-retiree vote. S. 3187, Roll Call No. 105, May 24, 2012.” [Alliance for Retired Americans, Congressional Voting Record, January 2012—January 2013]

AYOTTE VOTED TO GIVE THE PRESIDENT TRADE PROMOTION AUTHORITY, WHICH WOULD FAST TRACK THE TRANS-PACIFIC PARTNERSHIP, WHICH COULD DELAY ACCESS TO CHEAPER GENERIC DRUGS

Ayotte Voted For Trade Promotion Authority, Also Known As “Fast-Track,” Which Allowed Trade Agreements Negotiated By The Administration To Be Considered By Congress Under Expedited Procedures And Could Not Be Amended. In June 2015, Ayotte voted for: “McConnell, R-Ky., motion to concur in the House amendment to the Senate amendment to the bill that would allow public safety workers after age 50 to make penalty-free withdrawals from government retirement plans. The House amendment would grant Trade Promotion Authority, under which implementing legislation for trade agreements negotiated by the administration would be considered by Congress under expedited procedures and could not be amended.” The motion was agreed to by a 60-38 vote, sending the bill to President Obama. [CQ, 6/24/15; Vote 219, H.R. 2146, 6/24/15]

·         The Hill: Trade Promotion Authority Will “Expedite” The Process By Which Congress Approves Trade Deals And “Greatly” Increasing The Chances The President Concluding Negotiations On The Trans-Pacific Partnership. “The Senate voted Wednesday to approve fast-track authority, securing a big second-term legislative win for President Obama after a months-long struggle. […] Labor unions and liberal Democrats had fought hard against the authority and are likely to now turn their attention toward stopping the Trans-Pacific Partnership (TPP), a trade deal Obama is negotiating with 11 other Pacific Rim nations. Fast-track, or trade promotion authority, will allow the White House to send trade deals to Congress for up-or-down votes. The Senate will not be able to filibuster them, and lawmakers will not have the power to amend them. The expedited process, which lasts until 2018 and can be extended until 2021, greatly increases Obama’s chances of concluding negotiations on the TPP, which is a top goal of the president’s.” [The Hill, 6/24/15]

Doctors Without Borders Said That Trans-Pacific Partnership Would Delay Access To Generic Competition From Brand Name Drugs. “The intellectual-property provisions in the Trans-Pacific Partnership agreement will drive up global drug prices and make it harder to treat diseases in developing countries, Médecins sans Frontières (Doctors Without Borders) says.  A month after the final text of the TPP was released, the medical humanitarian organization has completed its analysis of the portions of the massive trade pact that will affect drug costs. Despite changes from earlier leaked versions of the text, there are still serious problems, Judit Rius, MSF’s U.S. legal policy adviser, said. ‘This is catastrophic. This is very negative. The impact is going to be at multiple levels,’ Ms. Rius said in an interview. ‘First of all, it is going to delay access to generic competition [for brand-name drugs], which is a proven intervention to reduce the price of medicines.’  For generic drug makers, she said, the TPP will create additional legal barriers that will get in the way of making new products, and that will stunt the industry.” [Globe and Mail, 12/6/15]

·         Headline: “Drug Prices Expected To Rise As Result Of TPP Deal” [Globe and Mail, 12/6/15]

Economics Nobel Laurate: “The T.P.P. Could Block Cheaper Generic Drugs From The Market.”  In an op-ed for the New York Times, Nobel laureate in Economics Joseph Stiglitz wrote, “Trade agreements are negotiated by the office of the United States Trade Representative, supposedly on behalf of the American people. Historically, though, the trade representative’s office has aligned itself with corporate interests. If big pharmaceutical companies hold sway — as the leaked documents indicate they do — the T.P.P. could block cheaper generic drugs from the market. Big Pharma’s profits would rise, at the expense of the health of patients and the budgets of consumers and governments.” [New York Times, Joseph Stiglitz, 1/30/15]

AYOTTE VOTED AGAINST THE REIMPORTATION OF SAFE PRESCRIPTION DRUGS, WHICH WOULD SAVE SENIORS MONEY

Ayotte Voted Against Amendment Allowing Importation Of Prescription Drugs From FDA Approved Canadian Pharmacies. In May 2012, Ayotte voted against: “McCain, R-Ariz., amendment no. 2107 that would allow the importation by individuals of drugs from approved Canadian online pharmacies. It would require the Health and Human Services secretary to publish on the Food and Drug Administration website a list of approved Canadian pharmacies, including their website addresses.” The amendment failed, 43-54. [CQ, 5/24/12; S.Amdt. 2107 to S. 3187, Vote 108, 5/24/12]

Ayotte Voted Against Allowing Individuals To Reimport FDA Compliant Prescription Drugs Into The U.S. From Canada. In October 2011, Ayotte voted against: “Vitter, R-La., amendment no. 769 to the Inouye, D-Hawaii, substitute amendment no. 738. The Vitter amendment would allow individuals to reimport prescription drugs into the United States from Canada, if they comply with Food and Drug Administration rules.” The amendment was rejected 45-55. [CQ, 10/20/11; S.Amdt. 769 to S.Amdt. 738 to H.R.2112, Vote 172, 10/20/11]

AARP: Drug Reimportation Will Help Lower The Cost Of Prescription Drugs. “AARP, the powerful seniors’ group that supports drug importation, has notified senators that it will keep close track of votes on the Dorgan amendment and will use the tally in its rankings of senior-friendly lawmakers. AARP Senior Vice President David Sloane said Friday that the legislation ‘would create a system for safe, legal importation of prescription drugs from abroad’ and would help lower drug costs.” [Washington Post, 12/15/09]

V/O: You’re paying high interest rates on college loans.

GFX: Paying

High

Interest Rates on

College loans

Vote 149, 4/15/15

V/O: Ayotte voted against letting you refinance at lower rates.

GFX: Kelly Ayotte

Against

Refinancing

College Loans

at Lower Rates

Vote 149, 4/15/15

STUDENT LOAN INTEREST RATES WERE HIGH UNTIL 2015, NEW INTEREST RATES DID NOT APPLY TO PEOPLE PAYING OFF OLD STUDENT LOANS

Although Interest Rates Went Down In 2015-2016, Rates Did Not Apply To Borrowers Who Had Taken Loans In Previous Years. “Here’s the good news: New federal student loans are cheaper this year. The 2015-2016 federal student loan interest rates take effect July 1 and are more than one-third of a percentage point cheaper than last year’s rates. […] Borrowers who took on loans in previous years won’t see these rates apply to their old debt.  Borrowers with older federal loans who want to tweak their rates can consider consolidating, which combines multiple loans into a single payment and averages their interest rates. They can also look into refinancing through a private lender, which typically recalculate a new rate based on the borrowers’ financial health, among other factors.” [US News & World Report, 7/1/15]

·         Private Loans Typically Did Not Determine Interest Rates By Market Fluctuations. “While private loan rates may also fluctuate with the market, those lenders typically determine their rates differently. They may factor a borrower’s credit history, ability to repay and other information into the rate calculation.  Private loan borrowers may have a chance to choose a fixed-rate private loan, which keeps interest consistent during repayment, or opt for a variable rate, which moves with the market.” [US News & World Report, 7/1/15]

In 2014, Interest Rates For Student Loans Went Up To 4.66%, An Almost 3% Increase From When Student Loans Were Not Tied To 10-Year Note. “Students will pay more to borrow from the U.S. government for college costs this coming school year, with the interest rate on undergraduate Stafford loans climbing to 4.66 percent. Interest rates for most federal student loans are pegged to the yield on the U.S. 10-year note sold at the Treasury’s auction prior to June 1. This year’s sale was held today, with the yield on the note set at 2.61 percent. When Congress first tied student loans to the Treasury note last year, undergraduate Stafford loans, the most-widely borrowed, carried a rate of 3.86 percent, almost 3 percentage points less than in the two previous years, because the 10-year note yield was a low 1.81 percent” [Bloomberg, 5/7/14]

Interest Rates From 2004-2011 Were 5.3%-6.8%. According to NerdWallet, Interest Rates For Student Loans From 2005-2011 Ranged From 5.3%%-6.8%. [NerdWallet, 5/22/12]

The Average Student Loan Debt In New Hampshire For 2013-2014 School Year Was Nearly $33,410. According to The Institute for College Access & Successes, the average student loan debt from “Public 4-Year Institutions and Private Non-Profit 4-Year Institutions” was $33,410. [The Institute for College Access & Success, Accessed 10/3/16]

·         New Hampshire Had The Second Highest Student Loan Debt In The Country. According to The Institute for College Access & Successes, Hampshire had the 2^nd Highest student loan debt in the country. [The Institute for College Access & Success, Accessed 10/3/16]

AYOTTE VOTED AGAINST ALLOWING STUDENT LOAN BORROWERS TO REFINANCE, WHICH COULD SAVE MORE THAN 125,000 GRANITE STATERS THOUSANDS, PAID FOR BY LOSING TAX LOOPHOLES ON MILLIONAIRES & BILLIONAIRES

Ayotte Voted Against Allowing Student Loan Borrowers To Refinance Student Loans Paid For By Requiring Millionaires To Pay 30% Minimum Effective Tax Rate. In April 2015, Ayotte voted against: “Warren, D-Mass., motion to instruct conferees to insist that the conference report include language that would allow student loan borrowers with outstanding loans to refinance at the equivalent interest rates that were offered to federal student loan borrowers during the 2013-2014 school year and to fully offset the cost of such a program by requiring millionaires to pay at least a 30 percent effective federal tax rate.” The motion rejected by a vote of 45-52. [CQ, 4/15/15; S Con Res 11, Vote 149, 4/15/15]

·         Student Loan Refinancing Legislation Would Save Eligible Borrowers Up To $2,000 Over The Life Of Their Student Loans. “Millions of Americans saddled with high interest on their student loans just lost a chance to have the rate lowered as Senate Republicans shot down on Wednesday legislation that would have let borrowers refinance their debt. But the fight ain’t over. […] Warren failed to get the 60 votes needed to advance the legislation on Wednesday, with a 56-38 vote on the Senate floor. The bill would have let people with federal and private loans issued prior to 2010 refinance at 3.86 percent–the interest rate that Congress set for federal student loans a year ago. The Obama administration estimated that the bill could have helped 25 million borrowers save $2,000 over the lifetime of their loans.” [Washington Post, 6/11/14]

·         More Than 125,000 New Hampshire Student Loan Borrowers Would Benefit From Student Loan Refinancing Legislation. According to the Department of Education, 129,000 New Hampshire student loan borrowers would benefit from legislation that let them refinance their student loans at lower rates. [U.S. Department of Education Estimates, 2014]

·         UPI: Buffet Rule Would Close Loopholes That The Wealthy Exploit. “The tax-lowering loophole and others like it are ‘fundamentally unfair’ and are a ‘result of decades of the tax system being tilted in favor of high-income households at the expense of the middle class,’ the National Economic Council report said. The Buffett Rule would seek to close loopholes so the rich pay at least 30 percent of their income in taxes.” [UPI, 4/10/12]

o   CBS News: Student Loan Refinancing Bill “Would Have Never Won GOP Support Because Of The Way It Was Paid For: A Minimum 30 Percent Tax On Americans Earning Between $1 Million And $2 Million A Year.” “The Senate shot down a proposal Wednesday to allow Americans paying off student loans to refinance at a lower rate, bringing yet another Democratic priority to a grinding halt. The bill, authored by Sen. Elizabeth Warren, D-Mass., failed to clear a procedural hurdle that would have brought it up for consideration in the face of Republican opposition. It went down by a vote of 56 to 38. It would have affected an estimated 40 million people begin paying a lower interest rate on their loans, but never would have won GOP support because of the way it was paid for: a minimum tax of 30 percent on Americans earning between $1 and $2 million each year. […] But Republicans called the bill a ‘political stunt’ that would do nothing to help future students. ‘The Senate Democrats’ bill really isn’t about students at all, its really all about Senate Democrats, because Senate Democrats don’t actually want a solution for their students, they want an issue to campaign on to save their own hides this November,’ said Senate Minority Leader Mitch McConnell, R-Ky.” [CBS News, 6/11/14]

V/O: And you’re paying higher bank fees.

GFX: Paying

Higher

Bank Fees

CNN, 10/5/15

Vote 127, 3/27/15

V/O: While Ayotte voted for special breaks to Wall Street executives.

GFX: Kelly Ayotte

Special Breaks

to Wall Street

Executives

CNN, 10/5/15

Vote 127, 3/27/15

ATM & OVERDRAFT FEES WERE AT RECORD HIGHS

CNN: Bank Fees For ATMs Up 21% Over The Past Five Years, Overdraft Fees Hit A Record $33.07. “The average fee to withdraw money from an ATM that is not affiliated with your bank has hit a record $4.52, according to an annual survey from Bankrate. That charge is up 21% over the past five years as banks look for new revenue in the wake of stricter regulations that followed the financial crisis. […] Overdraft fees, which occur when you spend more than what’s available in your checking account, have also been on a steady climb. The average fee hit a record $33.07, a 9% rise since 2010.” [CNN, 10/5/15]

·         Headline: “You’re Paying Record ATM Fees.” [CNN, 10/5/15]

Fortune: “Fees Have Equaled Big Bucks For Banks.” “Those pesky out-of-network fees are on the rise. Accessing your hard-earned money is costing you more of it.  According to a report published Monday by data provider Bankrate, ATMs charge non-customers an average of $2.88 for withdraws, up 4% since last year. Customers are getting dinged by their own bank for that same withdrawal—to the tune of $1.64 on average. That means the entire transaction costs an average of $4.52 in fees.  Those fees have equaled big bucks for banks.” [Fortune, 10/5/16]

AYOTTE VOTED AGAINST ELIMINATING DEDUCTIONS FOR CORPORATE COMPENSATION, WHICH WALL STREET BANKS SAVED BILLIONS ON

Ayotte Voted Against An Amendment To Eliminate Deductions For Corporate Compensation Greater Than $1 Million. In March 2015, Ayotte voted against: “Reed, D-R.I., amendment no. 919 that would create a deficit-neutral reserve fund to allow for legislation that would eliminate deductions for corporate compensation greater than $1 million.” The amendment was rejected 44-54. [CQ, 3/27/15; S.Con.Res. 11, Vote 127, 3/27/15]

·         Wall Street Banks Like Goldman Sachs Utilized Tax Break To Save Billions On The Bonuses They Paid Out. “The tax deductions, which will increase the bottom line of the banks, are perfectly legal and not new. They come as compensation for 2009 has roared back after the largest banks paid back billions of dollars in federal aid, an outlay still fresh in the minds of taxpayers. As pay goes up, so do the deductions. […] The biggest tax break will go to Goldman Sachs. It expects to award its employees $23 billion in bonuses — the most in its history — after having paid back $10 billion. Because most employee compensation is a deductible expense under tax laws, Goldman Sachs, which is technically taxed at a top corporate rate of 39 percent, will save about $9 billion in federal income taxes on the bonuses it pays out for 2009, Mr. Willens said.” [New York Times, 12/31/09]

·         In 2009, Goldman Sachs Saved An Estimated $9 Billion In Federal Income Taxes For Bonuses Paid To Employees. “The tax deductions, which will increase the bottom line of the banks, are perfectly legal and not new. They come as compensation for 2009 has roared back after the largest banks paid back billions of dollars in federal aid, an outlay still fresh in the minds of taxpayers. As pay goes up, so do the deductions. […] The biggest tax break will go to Goldman Sachs. It expects to award its employees $23 billion in bonuses — the most in its history — after having paid back $10 billion. Because most employee compensation is a deductible expense under tax laws, Goldman Sachs, which is technically taxed at a top corporate rate of 39 percent, will save about $9 billion in federal income taxes on the bonuses it pays out for 2009, Mr. Willens said.” [New York Times, 12/31/09]

AYOTTE VOTED AGAINST THE BUFFET RULE, WHICH CLOSED TAX LOOPHOLES EXPLOITED BY MILLIONAIRES LIKE THOSE ON WALL STREET

Ayotte Voted Against Even Debating Legislation To Require Millionaires To Pay A 30% Minimum Federal Tax Rate. In April 2012, Ayotte voted against a: “motion to invoke cloture (thus limiting debate) on the Reid, D-Nev., motion to proceed to the bill that would require taxpayers with more than $2 million in income to pay an alternative minimum of 30 percent in federal taxes, with a phase-in of the higher rate starting at the $1 million level.” The motion was rejected 51-45. [CQ, 4/16/12; S. 2230, Vote 65, 4/16/12]

·         Bloomberg: The Buffet Rule “Says Households Making More Than $1 Million Annually Shouldn’t Pay A Smaller Share Of Their Income In Taxes Than Middle Class Families.” “The findings put the U.S. tax system in conflict with the so-called Buffett Rule, which says households making more than $1 million annually shouldn’t pay a smaller share of their income in taxes than middle class families, says the report, which analyzed 2006 Internal Revenue Service data.” [Bloomberg, 10/12/11]

·         UPI: Buffet Rule Would Close Loopholes Exploited By The Rich. “The tax-lowering loophole and others like it are ‘fundamentally unfair’ and are a ‘result of decades of the tax system being tilted in favor of high-income households at the expense of the middle class,’ the National Economic Council report said. The Buffett Rule would seek to close loopholes so the rich pay at least 30 percent of their income in taxes.” [UPI, 4/10/12]

V/O: Kelly Ayotte.  She’s siding with corporate special interests and that’s costing you.

GFX: Kelly Ayotte

Voting with

Corporate

Special

Interests

V/O: She’s not working for New Hampshire.

GFX: Kelly Ayotte.

She’s not

working for us.

V/O: DSCC is responsible for the content of this advertising.

GFX: PAID FOR BY DSCC WWW.DSCC.ORG AND NOT AUTHORIZED BY ANY CANDIDATE OR CANDIDATE’S COMMITTEE. DSCC IS RESPONSIBLE FOR THE CONTENT OF THIS ADVERTISING.