>> I regret that the effort to repeal and immediately replace will not be successful.>> I'm Andy Sullivan in Washington, where the Republican effort to overhaul President Obama's Affordable Care Act has collapsed. Senate Republican Leader Mitch McConnell now saying he's gonna move forward with a vote to get rid of the law entirely, even though his party can't agree on what should come in its place.
Analysts say that approach could plunge insurance markets into turmoil and leave tens of millions of Americans without health insurance.>> Everybody's giving it their best shot.>> After weeks of work, the latest Senate plan dying abruptly on Monday night when Senator Jerry Moran of Kansas and Senator Mike Lee of Utah said they couldn't support it.
Catching the White House off guard and leaving McConnell short of the votes he needed. The plan would've scaled back the Medicaid plan for the poor and cut subsidies that helped working class Americans pay their premiums.>> We just simply do not have 50 senators who can agree on what ought to replace the existing law.
>> The new plan would give Congress two years to figure out how to fix health care before pulling the plug altogether on Obamacare.>> Which would give us the opportunity to work out a complete replacement.>> The news a huge setback for President Donald Trump>> I don't think it's dead, no.
But I'm certainly disappointed.>> Trump saying on Tuesday that the best course of action now is to do nothing and let costs continue to climb.>> And I think we're probably in that position where we'll just let Obamacare fail. We're not gonna own it. I'm not gonna own it.
I can tell you the Republicans are not gonna own it. We'll let Obamacare fail and then the Democrats are gonna come to us.>> Democrats calling on Republicans to work with them to fix the existing system.>> We can work together to lower premiums. We can work together to stabilize the markets.
>> Republicans backed a straight repeal in 2015, but as least three GOP senators saying they won't back it this time. McConnell calling for a vote anyhow.>> Well, this has been a very, very challenging experience.>> McConnell has long been weary of tackling health reform, worried that voters will then blame his party for rising costs and spotty coverage.
Now it appears he's aiming the wrap up debate as quickly as possible and move onto other subjects like tax reform. But the extended debate and its unsatisfying outcome are sure to leave an impression with voters as we head into next year's congressional elections.