Senate Republican leaders unveiled a draft bill they aim to put to a vote as early as next week. Fred Katayama reports.
Senate Republican leaders unveiled their draft of the new healthcare bill. The legislation kills the investment income tax Obamacare imposed on the wealthy. It also curbs expanded Medicaid help for the poor and reshapes subsidies to low-income people for private insurance. Under the Senate bill, those subsidies would be linked to their income instead of solely to their age as the House bill had. Manhattan Institute's Christopher Pope: (SOUNDBITE) CHRISTOPHER POPE, SENIOR FELLOW, MANHATTAN INSTITUTE (ENGLISH) SAYING: "I think this is a big improvement on the Affordable Care Act. It really focuses the payments and subsidies much better on the population of low-income and those with preexisting conditions, the people who really need it." Healthcare stocks, especially insurers and hospitals, got a boost on the news and lifted Wall Street. Fiduciary Trust's Carin Leong Pai: (SOUNDBITE) CARIN LEONG PAI, EXECUTIVE VICE PRESIDENT, FIDUCIARY TRUST COMPANY INTERNATIONAL (ENGLISH) SAYING: "The market was fearful earlier when the administration was talking about the healthcare reform and repealing of Obamacare, the concern was that many millions of people would lose healthcare insurance and that would mean substantial drop in volumes of drugs that are being purchased and also the number of patients that will be admitted to hospitals. So I think this is more of a relief from that standpoint." Republicans aim to put the new healthcare bill to a vote as early as next week.