The House of Representatives approved a bill to repeal major parts of Obamacare, handing President Donald Trump his biggest legislative victory, but setting up a tough fight in the Senate. Fred Katayama reports.
The U.S. House of Representatives narrowly approved a bill to repeal major parts of Obamacare and replace it with a Republican healthcare plan. The vote was the biggest legislative victory for President Donald Trump. Paul Howard, director of health policy at the Manhattan Institute: (SOUNDBITE) PAUL HOWARD, SENIOR FELLOW AND DIRECTOR OF HEALTH POLICY, MANHATTAN INSTITUTE (ENGLISH) SAYING: "I think, it boils down to Republicans really felt alienated by the process that happened, ironically, around when the Affordable Care Act passed back in 2009 - 2010. They felt like it was really jammed down their throats on a partisan line vote. You know, I know that President Obama and other Democrats would say, hey this was really a market structure. This is something we think conservatives should jump on board with. From a Republican perspective, they say this was handed to us as a fait accompli, and told you can't really change it. And that is left a bad taste in their mouth over the last several years." Healthcare stocks rallied. United Healthcare and Johnson and Johnson were among the day's biggest gainers on the Dow. Next up for Republicans, a tough fight to save their healthcare bill in the Senate, where they have only a 52-seat majority in the 100-seat chamber. One issue sure to resurface in the upper chamber: the treatment of people with "pre-existing" conditions that was central to the House debate. Dubbed the American Health Care Act, the bill aims to repeal most Obamacare taxes, including a penalty for not buying health insurance. It would also slash funding for Medicaid, the program that provides insurance for the poor.