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Trump Backs Republican Healthcare Bill

 1 min read / 

President Trump is supporting a draft bill from the US House of Representatives Republicans to repeal and replace Obamacare.#

Editor’s Remarks: ​The Patient Protection and Affordable Care Act, informally known as Obamacare, faces a total dismantling at the hands of the Republican party’s majority in the legislature. Under the current draft, new legislation will get rid of rules forcing most Americans to obtain medical insurance and would introduce tax credits to incentivise them to buy private insurance on the open market. Whether Trump’s avowed intentions to introduce competition into the US pharmaceuticals industry in order to reduce drug prices will outweigh the potential large-scale unsubscription from health insurance schemes warned of by House Democrats remains to be seen.

##What to watch: President Trump, Pfizer, Merck, Kevin McCarthy, Nancy Pelosi

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