President Donald Trump’s effort to roll back Obamacare faced growing obstacles on Monday as Republicans who control the U.S. Senate remained sharply divided over how to keep down the costs of their health-care bill and prevent millions from losing coverage.
White House chief of staff Reince Priebus told “Fox News Sunday” that Trump, who made repeal and replacement of Obamacare a central plank of his 2016 campaign, still expected the Senate to pass a health-care bill either before the scheduled start of Congress’ August recess “or maybe a little bit into” the recess.
Other Republicans voiced pessimism.
“My view is that it’s probably going to be dead,” Senator John McCain of Arizona said of the health-care legislation on the CBS program “Face the Nation.”
Some conservative senators, such as Ted Cruz of Texas and Rand Paul of Kentucky, have said they cannot support the proposal unless it goes further to repeal the 2010 Affordable Care Act, popularly known as Obamacare.
Senate Majority Leader Mitch McConnell is weighing how to shore up support for the health-care bill, which would repeal parts of Obamacare, former Democratic President Barack Obama’s signature legislation, and get rid of tax increases that fund it.
The Republican-controlled House of Representatives in May passed its own version of a bill overhauling health care.
via CNBC
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Latest posts by Alfonso Esparza (see all)
- Market Rally Still Going Low Holiday Volumes Awaiting Start of 2020 - 27 December 2019
- Market Awaits China Retaliation on Trade - 29 November 2019
- Alibaba to Close Order Book Ahead of Huge IPO - 18 November 2019