Republican Effort to Repeal ACA Doomed After Collins Will Not Support

The latest Republican bill to repeal the Affordable Care Act (ACA) appears doomed to fail after a key senator came out strongly against it within minutes of an analysis which said the plan would strip health insurance from “millions” of Americans.

Moments after the nonpartisan Congressional Budget Office (CBO) released a partial analysis of the Republicans’ plan, Maine senator Susan Collins announced she would not vote for the bill and called it “deeply flawed”.

The CBO said it was unable to provide its customary detailed estimate because it lacked time to examine the legislation, but said “millions fewer” people would have insurance because of large cuts to Medicaid (a health insurance program for the poor), lower subsidies for individuals who buy insurance, and a lack of penalties for people who prefer to go without insurance.

via The Guardian

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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