House Votes to Repeal & Replace Barack Obamacare

House Votes to Repeal & Replace Barack Obamacare

House Votes to Repeal & Replace Barack Obamacare

Thursday in the US House of Representatives, The Trump Administration scored a major victory, as the GOP lawmakers passed legislation that will repeal and replace Barack Obamacare by a 217-213 vote tally.

The 1st step in the process of dismantling former President Barack Hussein Obama’s healthcare law comes just a few days after President Trump’s 100 Days in the Oval Office.

House Speaker Paul Ryan crafted and offered new amendments to the conservative members of the House Freedom caucus, like one offering states the ability to opt out of providing coverage for those with pre-existing conditions.

Moderate Republicans ended up voicing new opposition, and 20 Republican Congressmen ended up voting no on the Barack Obamacare replacement bill.

President Donald Trump and Republicans in Congress promised to maintain pre-existing coverage in the bill, but wavering moderate Republicans worried that the initial legislation might undo that popular aspect of the Affordable Care Act (ACA).

Republican lawmakers got behind the bill after meeting with President Trump to float a compromise proposal, which would add $8-B over 5 years to help cover the cost for people with pre-existing illnesses who could otherwise be priced out of insurance markets.

Members of the Freedom Caucus, a small group of conservative House lawmakers who played a Key role in derailing the original Republican version last month, went along with the compromise.

Republicans used the congressional reconciliation process, which only requires a simple majority of 216 votes to pass a bill to move their Affordable Care Act replacement through the House.

The bill now moves to the Senate, where it needs 51 votes to clear the Capitol Hill chamber.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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