Senate Republicans aren’t wasting time.
Despite cries from the healthcare industry to not repeal Obamacare (passed as the Affordable Care Act) without a suitable replacement, the Senate met at 1:40 am on Thursday to take the first steps to repeal the loathed piece of legislation.
The Affordable Care Act has resulted in massive price increases in both insurance and health services.
It’s not even arguable to say that the Affordable Care Act is even remotely affordable – unless the government is footing most of the bill.
The Senate vote is now thrown over to the House of Representatives which is poised to vote as soon as Friday for repeal.
One lonely Republican didn’t support the aggressive move to appeal . . . Sen. Rand Paul who voted “no” on the bill.
Paul’s objection was noted weeks ago as he has been an advocate of only repealing when a replacement has been proposed – which could take three years.
The move by Congress is supported by the Koch Brothers who have been advocating the move to repeal regardless of a replacement through their group, Americans for Prosperity.
Health stocks are showing vulnerability after being on a perpetual rise since the passage of Obamacare – which provided them with massive profits for years.