congressional budget office american healthcare act

Treasury bond yields edged up from session lows. The dollar strengthened modestly on the news, and U.S. Shares of hospital operators finished sharply higher, with the S&P healthcare facilities index up 2.7 percent, while the S&P 500 healthcare sector edged down 0.03 percent. The S&P 500 Index ended fractionally lower, the blue chip Dow Jones Industrial Average slipped about 0.3 percent and the Nasdaq Composite Index rose about 0.2 percent. stock market indexes ended the session mixed after rallying back from session lows following the news.

equity investors, who earlier in the week had been fretful that an outright defeat would damage Trump’s other priorities, such as tax cuts and infrastructure spending.īenchmark U.S. News that the bill had been pulled before a final vote was greeted initially with a small sigh of relief by U.S. The nonpartisan Congressional Budget Office said under the Republican legislation 14 million people would lose medical coverage by next year and more than 24 million would be uninsured in 2026. Trump said he was disappointed and “a little surprised” with the Freedom Caucus opposition. “Perhaps the best thing that could happen is exactly what happened today, because we’ll end up with a truly great healthcare bill in the future after this mess known as Obamacare explodes,” said Trump, who had posted multiple tweets throughout March proclaiming that “Obamacare is imploding” and repeatedly saying that Republicans were coming together to pass the bill. “There were things in this bill that I didn’t particularly like,” Trump added, without specifying what those were, but expressed confidence in Ryan’s leadership. healthcare system in disarray.Īnd some moderate Republicans opposed the bill because of worries that millions of America would be hurt. Senate Democratic leader Chuck Schumer said the bill failed “because of two traits that have plagued the Trump presidency since he took office: incompetence and broken promises.”ĭemocrats said the bill would take away medical insurance from millions of Americans and leave the more-than-$3 trillion U.S. Trump on Obamacare repeal: from boasts of greatness to lessons learned

The healthcare failure called into question not only Trump’s ability to get other key parts of his agenda, including tax cuts and a boost in infrastructure spending, through Congress, but the Republican Party’s capacity to govern effectively. With Friday’s legislative collapse, Democratic former President Barack Obama’s signature domestic policy achievement, the 2010 Affordable Care Act - known as Obamacare - remains in place despite seven years of Republican promises to dismantle it. We learned a lot about the vote-getting process,” Trump told reporters at the White House, although he sought to shift the blame to the Democrats even though his party controls the White House, the House and the Senate. But desperate lobbying by the White House and Republican House Speaker Paul Ryan was unable to round up the 216 votes needed for passage.

House Republicans had planned a vote on the measure after Trump late on Thursday cut off negotiations with Republicans who had balked at the plan and issued an ultimatum to vote on Friday, win or lose. House of Representatives leaders yanked the bill after a rebellion by Republican moderates and the party’s most conservative lawmakers left them short of votes, ensuring that Trump’s first major legislative initiative since taking office on Jan.

Congressional budget office american healthcare act