David McCormick Supports Putting Medicare and Social Security on the Chopping Block and Wants to “Roll Back” the Inflation Reduction Act
PENNSYLVANIA — Following David McCormick becoming the GOP Senate nominee, the Pennsylvania Democratic Party is wrapping up its series to highlight why Pennsylvanians can’t trust the Connecticut mega-millionaire and hedge fund CEO to be for them.
David McCormick’s out-of-touch record includes threats to gut Social Security and Medicare, roll back the Inflation Reduction Act, killing thousands of good-paying jobs in Pennsylvania, and skimping paying taxes on his vast fortune.
Read More About David McCormick’s Out-of-Touch Record:
David McCormick is skimping on paying taxes on his vast fortune.
- McCormick is skimping on paying taxes on millions of dollars he has put in a “dynasty trust” used by the ultra-wealthy to pass down their wealth.
- McCormick bragged to a New Hampshire crowd of Ivy League business students that he is only “spending half [his] time in Pennsylvania” and the other half with “really wealthy people.”
David McCormick has threatened programs that support millions of Pennsylvanians and legislation that will create thousands of good-paying jobs.
- McCormick has supported putting Medicare on the chopping block.
- McCormick: “So the path through this is […] a tightening of the belt […] And as I said, there’s entitlements and a number of other drivers of that.” [John Fredericks Radio Show, 11/16/23; 4:40]
- McCormick said entitlements like Medicare “aren’t sustainable” and that he doesn’t think children “are going to be able to live under the same entitlements that all of us here are.”
- McCormick said he wanted to “roll back” the Inflation Reduction Act, which allows Medicare to negotiate lower drug prices for seniors.
- McCormick: “What happened under Biden with these huge, enormous pieces of legislation – the Inflation Reduction Act […] We got to roll that back.”.” [John Fredericks Radio Show, 10/3/23; 41:21]
- McCormick is backed by billionaires who support his crusade to eliminate Social Security and Medicare benefits and spike costs for hardworking Pennsylvanians.
David McCormick has enriched himself at the expense of working people.
- McCormick badly mismanaged the retirement funds of Pennsylvania’s teachers, while he walked with millions in fees.
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