Will the Trump Administration Regenerate the Health Care Bill?

After vowing to repeal Obamacare last month, Trump's administration is now seeking a deal on a new health care bill.

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On Monday (April 2), White House officials, including Vice President Mike Pence, offered a new version of the failed GOP health-care plan to appease far-right Republicans.

According to Bloomberg, House Speaker Paul Ryan said on Tuesday there isn’t a bill text or an agreement just yet. On the other hand Mark Walker, chairman of the conservative Republican Study Committee said it is being put together.

That said, an initial vote on the floor was set to take place on March 24 but, just before the voting went down, President Donald Trump asked speaker Paul Ryan to pull the bill.

“Obamacare’s the law of the land. It’s gonna remain the law of the land until it’s replaced. We did not have quite the votes to replace this law… we’re gonna be living with Obamacare for the foreseeable future,” said Ryan in a press conference following the defeat of his bill.

The new bill would allow states to apply for waivers for requirements on insurance companies under the affordable care act, according to the AP. One of those requirements prohibits insurance companies from declining to ensure people with serious diseases.

Before accepting the offer, Freedom Caucus members said they would prefer to see it in writing.

One of the key challenges the initial bill faced, besides complete dismissal from Democrats, was the lack of support from the Freedom Caucus, an ultra-right group that didn’t see the bill fully repealing Obamacare.

White House spokesperson Sean Spicer said the administration feels “very optimistic” about the discussions taking place regarding the bill and expects a resolution by the end of the week.

“Right now, we’re just at that conceptual stage about how to move forward in a way that can get everybody to 216,” Ryan told reporters today. The bill needs 216 votes in Congress so it may move on to the Senate.

“The administration is saying it would like it this week,” Bloomberg quoted Republican Representative Chris Collins of New York as saying. 

Following the failure of the original bill, president Trump tweeted the Freedom Caucus needed to “get on the team” otherwise they would hurt the entire Republican agenda, threatening to even challenge them in the Senate election next year.

On that note, the market reacted negatively to the failure of the original health-care bill. Despite the possibility for a GOP care plan to pass, the unpredictability of Trump’s presidency has proven to take a hit to the market, especially when he uses Twitter as a platform to attack groups or industries from tweets.

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Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

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