Trump Administration Faces Tough Challenge to Pass Health Care Bill

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

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency 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.
Alfonso Esparza