It’s no secret that Republicans are chomping at the bits to repeal the Affordable Care Act. Conservatives have criticized the program since it was passed in 2010. Now, with a new Congress in place, Obamacare is finally being repealed. On Thursday, the Senate passed a budget instructing committees to write measures repealing most of Obamacare. Now that the groundwork has been laid, what’s next for healthcare?
Senate Approves The First Step Towards the Repeal Process Of Obamacare
President-Elect Donald Trump has promised to repeal Obamacare since he announced his intention to run for president. And since his victory, he’s urged congress to start the process. As a result, the Senate held a midnight meeting, debating until after 1 a.m. and then narrowly passing a budget to begin the repeal process by a vote of 51-48. What are the next steps for Congress? What will replace the ACA?
The budget isn’t just for repealing Obamacare, but for the 2017 fiscal year. If approved by the House later this week, then the next step by Congress would be to set up two House and two Senate committees to come up with replacement plans for Obamacare by January 27. Republicans have criticized the Obama Administration’s spending, but have stated spending cuts won’t go into place until the 2018 budget.
As for what will replace the current program, that remains to be seen. Republicans are adamantly opposed to the ACA, saying it’s hurt the economy by requiring companies to spend more on health care and driving up healthcare costs and premiums. Yet for all their criticisms, there doesn’t seem to be a plan in place for what’s next, which is a scary thought.
What’s more concerning is that Donald Trump, while actively pushing for a repeal and replacement of the plan, is warning Republicans away from owning the legislation. That means that he wants Republicans to take it away and Democrats to come up with a replacement – which Republicans will then shoot down.
Watch the news report regarding the repeal of Obamacare from ABC News:
The future of healthcare is unstable at best, but Trump stated in his press conference on Wednesday that he has a plan he’ll put forward as soon as his Secretary of Health and Human Services is in office. But until a plan comes forward, investors would be wise to avoid healthcare stocks.
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