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Obamacare Repeal Bill Passes House

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In a 217-213 vote, the Housed passed a bill to repeal a majority of the provisions introduced by the Affordable Care Act.

Republicans have faced a bumpy road in getting this legislation approved and were able to do so without a single Democratic vote.  The bill would, among other things, eliminate the individual shared responsibility and the employer mandate retroactive to January 1, 2016.

Many ACA tax provisions would be repealed effective beginning in 2017, most notably the 3.8% net investment income tax.  Repeal of the .9% Medicare surcharge tax on certain individuals would be effective beginning in 2023.

The bill is now set to go the Senate where Republicans hold a small edge with 52 seats.

An alert with more details on the bill will be forthcoming.

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