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00:00:00
>> A actually can dramatically->> How much can the Republican healthcare plan cost and who would be affected? Answers could come as soon as Monday. I'm Andy Sullivan in Washington, where we are awaiting the new report from the Congressional Budget Office that will layout the impact of the Republican plan.
00:00:15
But even before that, other sources are producing estimates that can make it harder for House Speaker Paul Ryan to push through the plan, which will replace President Obama's Affordable Care Act. The credit rating agency Standard & Poor's is estimating that 6 million to 10 million people could lose health insurance under the Republican plan.
00:00:33
And according to Congress' joint committee on taxation, the plan would shrink tax revenues by at least $600 billion over ten years. The Republican legislation would roll back an expansion of Medicaid insurance for the poor and replace Obamacare's income based subsidies with a system of fixed tax credits to help people buy private insurance on the open market.
00:00:53
The CBO report is needed to determine the full budgetary impact of the Ryan bill whether the savings from Medicaid cuts and lower subsidy costs are enough to offset the loss of revenues. Democrats and other critics on the left, call the plan a give away for the rich, while some conservatives dismiss it as Obamacare light.
00:01:11
Ryan says his bill is the best chance for his party to deliver on its promise of repealing and replacing Obamacare. President Trump getting in on the act as well.>> We have to take care of people who need the help.>> In a Trump meeting with what he called victims of Obamacare at the White House on Monday.
00:01:28
>> The deductible is so high that essentially unless you had a really big problem you wouldn't even be able to use it. Democrats hate this new plan, conservatives aren't sold on it and even moderate Republicans are worried about its impact, Indications that getting this bill passed will be a tough slog.