House Republicans finally released their much-anticipated plan Monday to tear apart former President Barack Obama’s signature health care legislation and replace it with a new proposal.
The broad piece of legislation would drastically reduce the government’s role in the health care system by eliminating the so-called individual mandate as well as federal subsidies that help cover the cost of policies.
Instead, people would receive tax credits based on their age, starting at $2,000 for someone in their 20s.
“We begin by repealing the awful taxes, the mandate penalties and the subsidies in ObamaCare,” House Ways and Means Committee Chairman Kevin Brady (R-Texas) told Fox News on Monday.
President Trump backed the plan Monday, tweeting from his official POTUS Twitter account, “Time to end this nightmare.”
The individual mandate refers to financial penalties imposed on people who don’t have any medical coverage.
“Our plan will eliminate costly insurance mandates,” House Speaker Paul Ryan tweeted Monday evening.
House committees planned votes on the legislation Wednesday. The vote will be just the initial stage in what promises to be a bruising battle.
Democrats in the House pounced on the proposal, claiming it would leave too many Americans without the health care they need to survive.
“The Republican repeal bill would rip health care away from millions of Americans,” read a joint statement from top Democrats on the two committees handling health care.
Trump made repealing ObamaCare one of his main promises on the campaign trail.
The House bill seeks to eliminate the taxes placed on businesses and the penalties for those who do not enroll in a health insurance plan. The bill also includes protections for patients that existed under ObamaCare.
Those with pre-existing conditions still can’t be denied coverage or charged more money under the new bill. In addition, young adults can continue to stay on their parents’ insurance plans until the age of 26.
Federal funding for Planned Parenthood would be eliminated under the plan. Also, Medicaid would transition to a “per capita allotment” to the states from the existing federal program.
The bill also includes reforms that House Republicans claim come directly from the Oval Office. Trump wants to offer low-income Americans a tax credit — up to $14,000 for a family — in order to help them acquire health care plans.