House of Representatives Majority Leader Kevin McCarthy says repealing Obamacare without replacing it would double premiums and collapse the markets. Rough Cut (no reporter narration).
ROUGH CUT (NO REPORTER NARRATION) STORY: House of Representatives Majority Leader Kevin McCarthy said on Friday repealing Obamacare without replacing it would be 'damaging'. "If you just repealed the bill, you would double the premiums and you would collapse the market," McCarthy said. "Then you would sit here and wait and hope that you'll get 60 votes to try to deal with the healthcare system. I don't believe that is the best approach." The Republican plan backed by President Donald Trump to overhaul the U.S. healthcare system cleared its first hurdles in Congress on Thursday, but its chances for passage looked uncertain and top Republicans scrambled to bring disgruntled conservatives aboard. The bill would replace Obamacare's income-based subsidies with a system of fixed tax credits to help people buy private insurance on the open market, while ditching the Obamacare expansion of the Medicaid insurance program for the poor. It would also end penalties for not having insurance, though insurers would be given permission to impose a 30 percent surcharge on customers who let their coverage lapse for more than two months and then seek to renew.