FOR IMMEDIATE RELEASE
BRIAN BANKS GIVES EMPTY PROMISES ON INSURANCE REFORM IN GP TIMES
GROSSE POINTE, MI (October 27, 2016) – Today William Broman, Republican candidate for State Representative in District 1, criticized democrat Brian Banks for continuing to lie to voters.
“Rep. Banks has not been able to get any bills signed into law over the last four years, he won’t deliver in the next two,” said Broman.
“The only insurance reform bills Banks has introduced would end up giving nearly $65 million of taxpayer money away to insurance companies, for him to continue saying this is his top goal is just a blatant lie,” Broman continued saying “his bills don’t even solve the root of the problem, they are bandaid fixes, and bad ones at that.”
The statements come after Banks listed “Insurance” as one of his top goals in the Grosse Pointe Times Voter Guide. Banks introduced HB 5134 and 5135 that would require insurance companies to give a 12% rate reduction to policyholders in Detroit. In exchange, insurance companies would receive a $500 tax credit for each policy. According to analysis done by the nonpartisan Senate Fiscal Agency for Senate Bill 288, the average policy in Detroit costs $3400.
Using the SFA analysis, insurance companies would average a tax credit that is $92 more than the rate reduction. Based on total potential drivers, Banks’ bill could cost taxpayers $65 million a year beyond the cost of reimbursing insurance companies for the 12% rate cut.
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About William Broman For Michigan
William Broman is the only Republican candidate for District 1 in the Michigan House of Representatives. He grew up in Grosse Pointe Woods and attended Grosse Pointe Public Schools. He graduated Grosse Pointe North in 2010, and earned a B.S. in Biomedical Engineering from George Washington University graduating in 2014. He has worked for an automotive supplier as an engineer and a DC based education advocacy group. In 2012, Broman ran for a seat on the Grosse Pointe Public Schools Board of Education, receiving more than 9,000 votes. Broman was recently named to Red Alert Politics 30 Under 30 Class of 2016, a national list of top conservatives under 30. He currently lives in Grosse Pointe Woods.