Capitol Report: Here’s what happens if Obamacare mandate is repealed, as Senate is considering

Senate Finance Committee Chairman Orrin Hatch is planning to release an updated version of a tax bill later Tuesday.

The Senate’s tax bill appears likely to include a repeal of Obamcare’s individual insurance mandate, reflecting increased prodding from President Donald Trump and injecting a major GOP policy goal into an already-complicated tax overhaul.

Republicans were signaling Tuesday that they would seek to repeal the requirement for most Americans to have insurance, as part of their tax-overhaul package, The Wall Street Journal wrote.

The idea comes as the GOP is seeking to save money in its tax-cut bill, and meet budget constraints. Last week, the Congressional Budget Office said repealing the individual mandate would raise $338 billion over 10 years, due to reduced spending on Medicaid and insurance subsidies.

See: Repealing Obamacare individual mandate would boost uninsured by 4 million, CBO finds.

But getting rid of the mandate would also jack up the number of uninsured Americans by 4 million next year, according to the nonpartisan CBO. By 2027, 13 million more people would be uninsured, according to the CBO.

Trump tweeted about repealing the mandate on Monday, saying, “how about ending the unfair & highly unpopular Indiv Mandate in Ocare”?

Senate Finance Committee Chairman Orrin Hatch is expected to unveil an updated bill Tuesday evening. Even if it includes repeal, however, the House’s version of the legislation does not. The House and Senate need to agree on a single piece of legislation to send to Trump.

Filed in: Top News Tags: 

You might like:

The government has no idea how many gig workers there are—why that’s a problem The government has no idea how many gig workers there are—why that’s a problem
God-fearing countries are among the least wealthy—with one notable exception God-fearing countries are among the least wealthy—with one notable exception
America’s 1% hasn’t controlled this much wealth since before the Great Depression America’s 1% hasn’t controlled this much wealth since before the Great Depression
Women don’t see men who drive flashy cars as husband material Women don’t see men who drive flashy cars as husband material
The New York Post: Trump dubs himself ‘your favorite president’ in tweet about Michael Cohen tape The New York Post: Trump dubs himself ‘your favorite president’ in tweet about Michael Cohen tape
The Wall Street Journal: Cease-fire in place between Israel and Hamas in Gaza Strip The Wall Street Journal: Cease-fire in place between Israel and Hamas in Gaza Strip
The New York Post: New York Giants owner says Trump lacks understanding of NFL players’ anthem protests The New York Post: New York Giants owner says Trump lacks understanding of NFL players’ anthem protests
The New York Post: Most of music business’s top money makers in 2017 had been at it for decades The New York Post: Most of music business’s top money makers in 2017 had been at it for decades

Leave a Reply

Submit Comment
© 2018 Stock Investors News. All rights reserved. XHTML / CSS Valid.