Hospitals, Insurers Gain as Republican Health Bill Is Pulled

Trump claimed that the law is “imploding” and will eventually “explode”.

Ryan, R-Wis., withdrew the legislation after Trump called and asked him to halt debate without a vote.

“For seven-and-a-half years we have been promising the American people that we will repeal and replace this broken law because it’s collapsing and it’s failing families”, Speaker Ryan said. Like Boehner, Ryan is now perceived as weak-willed when it comes to key issues near and dear to the Republican Right, such as voting for Wall Street bailouts and immigration reform.

The President delivered an ultimatum to lawmakers this week, ordering the House of Representatives to vote on the GOP’s health care replacement or keeping Obamacare in tact.

Hospital chains’ shares have yo-yoed through the attempts to repeal and replace the Affordable Care Act as investors tried to determine the impact on the industry’s bottom line, as well as the legislation’s chances for passage. In February, the White House proposed a number of changes weakening the health law’s mandate for people to obtain (largely subsidized) insurance coverage, among other measures -a critical policy mechanism for making sure that a broad enough mix of people buy individual insurance plans and keep the marketplaces stable.

He also predicted the Affordable Care Act would soon implode, forcing Democrats to join the Republicans at the negotiating table. “In the words of my friend Joe Biden: This is a BFD”.

In fact Mr Ryan’s legislation was doomed by conservative divisions, and by the impossible expectations raised by Republicans in the elections of 2010, 2012, 2014 and 2016, as they told voters that the ACA was responsible for everything that Americans dislike about health care, from rising premiums to high out-of-pocket costs-though most Americans get their insurance from their employers or from government schemes for the elderly.

Trump wants to refocus his energy to an area where he may have a better shot at scoring a legislative victory: tax reform.

A procedural vote on the Bill was set for yesterday morning, followed by a full floor vote in the afternoon.

“Paul Ryan said we are done with this subject, we’re moving on”, said Republican Bill Flores of Texas.

The defections raised the possibility that the bill would not only lose on the floor, but lose big.

President Donald Trump suffered his first White House setback today when the Trumpcare vote got yanked rather than suffer what seemed destined to be a stunning spanking with the plan failing to secure the needed 216 House votes.

The bill also significantly curtails federal support for Medicaid and allows states to require able-bodied adults to work.

Conservatives believe the Republican bill does not go far enough to repeal Obamacare and moderates think the plan could hurt their constituents. Jan Schakowsky, an Evanston Democrat, assailed the bill for defunding Planned Parenthood.

Democrats uniformly oppose the bill, and it appeared to lack the needed Republican support as well, despite last-minute changes meant to broaden its appeal. “This bill is pure greed, and real people will suffer and die from it”, said Rep. Pramila Jayapal of Washington state.