House takes 1st Step Toward Repealing Affordable Care Act
The House of Representatives approved a budget resolution today with a vote of 227-198 to repeal the Affordable Care Act, commonly known as Obamacare. Committees now deal with the task of writing legislation to repeal the law. The vote followed party lines with only nine Republicans voting against the resolution. Republicans claim that the law needs to be repealed citing, amongst other things, large increases in insurance premiums and fewer choices of insurers for individuals. Democrats argue that the law should not be repealed without a replacement plan in place claiming that millions of Americans will lose their health insurance coverage. As surmised in a previous Withum Trumponomics release, smaller pieces of legislation as opposed to one large piece may serve better in replacing the law, as indicated by Senate Republican John Cornyn. To be continued…
