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Congressional GOP Embrace Trump's Proposal to Replace Obamacare

American lawmakers are working through the weekend for the initial time since the federal closure began over a month ago, but expectations for a bipartisan agreement on how to end the impasse appeared to diminish as GOP senators floated a proposal toxic to Democrats: scrapping the ACA, called Obamacare.

Growing Impact of Government Shutdown

The impact on Americans from the lengthiest closure of the federal government in history worsened on Saturday, as government employees went without pay, carriers were forced to ground planes and SNAP benefits have been postponed for forty-two million Americans.

President's Plan from Florida Resort

As Saturday's session got started, Republican senators embraced a proposal made on social media early Saturday by Donald Trump from his resort in West Palm Beach, for government payments to be replaced by health savings accounts.

"My recommendation is to Senate Republicans that the Hundreds of Billions of Dollars currently being sent to profit-driven Insurance Companies in order to save the ineffective Healthcare provided by ObamaCare, BE SENT DIRECTLY TO THE PEOPLE SO THAT THEY CAN PURCHASE THEIR OWN, MUCH BETTER, HEALTHCARE," Trump posted.

Republican Support

Multiple Republican senators praised the proposal, which is comparable with a alternative for Obamacare proposed in 2017.

"We're going to replace this failing program with something that is truly better for the consumer," one senator stated.

Another senator praised Trump's proposal on social media, and stood next to a giant blow-up of Trump's post as he spoke on the Senate floor.

"I am drafting the bill right now," a third senator posted in response to Trump's proposal. "We must stop public funds from going to carriers and instead give it straight to Americans in HSA-style accounts and let them buy the health care they want."

Opposition Response

Democratic senators shared concerned reactions to Trump's proposal.

"In other words, Donald Trump's 'concept of a plan' for health care is another calculated attempt to repeal Obamacare," one Democratic senator stated. "It's the same failed Republican plan that's been rejected by voters and Congress."

Another lawmaker responded to the censure of carriers by writing: "Well, Trump and the Republicans can't stand how the big, bad insurance companies are ripping-off Americans. Seriously? Then I applaud your support for Medicare for All."

Ongoing Talks

The Senate adjourned without finding a resolution, but Senate Republican leaders have signaled an willingness to an emerging proposal from a small group of centrist lawmakers to terminate the shutdown in exchange for a future vote on the ACA payments.

One Democratic senator, who is leading the talks among centrists, said that Democrats "require another way ahead" after Republicans turned down an offer to restart the government and continue the payments for a year.

Another senior Democratic senator continued in maintaining that Republicans should agree to a one-year extension of the subsidies before discussing the future of the tax credits.

"Inaction is derelict because citizens will go bankrupt, people will lose insurance, people will get more ill," the senator said in a Senate address. "That's what will happen if this Congress does nothing."

Political Situation

Not one of the Republican senators seemed to address the fact that consumers would still need to buy coverage from the same insurance companies, or that Republican lawmakers need the backing of several Democrats to reopen the government, and the idea of repealing and substituting Obamacare with savings accounts is unlikely to earn a single Democratic vote.

Some observers suggested that the core of such a plan would remove the ACA's requirement that carriers cover individuals with pre-existing conditions.

After his resort visit, Trump went back to his residence and doubled down on his insistence that Republicans stop seeking compromise and try instead to eliminate and overhaul Obamacare with a iteration of the plan that was unsuccessful to garner enough support in 2017.

By

Robert Howard

A seasoned financial analyst with over a decade of experience in forex and crypto markets, specializing in technical analysis and risk management.

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