Obamacare repeal 3.0 went down in flames Tuesday. According to Bloomberg, opposition from three Republican Senators derailed the latest attempt to dismantle the Affordable Care Act.
Leaders decided the Senate won’t vote before Saturday’s deadline to use a fast-track procedure to keep Democrats from blocking a GOP-only bill. On Monday, Republican Senator Susan Collins of Maine added her opposition to that of GOP Senators John McCain of Arizona and Rand Paul of Kentucky, enough to sink the legislation in the 52-48 Senate.”
This raises broader questions: Can Republicans get anything done? Is there any chance of Trump pushing through his ambitious economic agenda?
The dollar plunged after Republicans in Congress abandoned their plan to overhaul Obamacare this week.
The plan to “repeal and replace” the Affordable Care Act collapsed after Senators Mike Lee and Jerry Moran joined fellow Republicans Susan Collins and Rand Paul opposing it. In fact, “repeal and replace” was a misnomer. The Republican plan kept many key elements of Obamcare in place. It was more of a Republican revamp than any kind of repeal.
Nevertheless, pundits and analysts widely viewed the failure to get healthcare reform done a major stumble for Republicans, and it seems to cast doubt on the Pres. Trump’s ability to advance his ambitious economic agenda. Reuters put it this way: