Representative Kevin Brady, a Texas Republican, offers his endorsement of House Republicans' replacement for the Affordable Care Act. Rough Cut (no reporter narration).
ROUGH CUT (NO REPORTER NARRATION) House Republicans outlined a new healthcare plan on Tuesday (March 7) after receiving backing from President Donald Trump for a draft bill to repeal and replace the Affordable Care Act, popularly known as Obamacare. The new healthcare legislation would eliminate the requirement that most Americans obtain medical insurance and create a system of tax credits to coax people to purchase private insurance on the open market. "This is Obamacare gone," said Representative Kevin Brady, a Texas Republican on the House Ways and Means Committee. House Democratic leader Nancy Pelosi said the Republican measure would take millions of people off health insurance rolls and would benefit the wealthy. The unveiling of the House Republican plan marked a key step toward carrying out pledges by Trump and Republicans in Congress to dismantle the Obamacare law even as lawmakers face pressure from constituents not throw America's healthcare system into chaos. In a series of Twitter posts, Trump called the House Republican draft "our wonderful new Healthcare Bill" and said that it was "now out for review and negotiation." Trump, who has previously called for lower drug prices, added, "I am working on a new system where there will be competition in the Drug Industry. Pricing for the American people will come way down!" He gave no details. His comment sent shares of drugmakers lower. The president also said there would be additional action to allow people to buy health insurance across state lines "in phase 2 & 3 of healthcare rollout," although it was not immediately clear when or how that addition would come.