Unic Press UK: Two notable bodies, United States Joint Committee on Taxation (JCT) and the Congressional Budget Office (CBO) [known for their independent analyses of economic and budgetary issues to support the U.S. Congressional budget process] have issued a report on the estimates of the direct spending and revenue effects of the Obamacare Repeal Reconciliation Act of 2017.
Excerpts of the cost estimates on H.R. 1628 Obamacare Repeal Reconciliation Act of 2017 that was published by the JCT and CBO on July 19th 2017 reads:
“The number of people who are uninsured would increase by 17 million in 2018, compared with the number under current law. That number would increase to 27 million in 2020, after the elimination of the ACA’s expansion of eligibility for Medicaid and the elimination of subsidies for insurance purchased through the marketplaces established by the ACA, and then to 32 million in 2026.
Average premiums in the nongroup market (for individual policies purchased through the marketplaces or directly from insurers) would increase by roughly 25 percent—relative to projections under current law—in 2018. The increase would reach about 50 percent in 2020, and premiums would about double by 2026.”
Prior to being elected, the U.S. president Donald Trump campaign mantra was that repealing President Barack Obama’s signature healthcare law would be the “first order of business” to allow a “market-based” medical insurance system.
We will immediately repeal and replace ObamaCare – and nobody can do that like me. We will save $'s and have much better healthcare!
— Donald J. Trump (@realDonaldTrump) February 9, 2016
The most recent effort by the Trump administration to repeal ObamaCare was halted Tuesday after three Republicans refused to support it.
