US House Republicans unveiled long-awaited legislation Monday that would repeal and replace the health care reforms known as Obamacare, largely under the framework that President Donald Trump laid out in his recent congressional address.
The American Health Care Act would dismantle several of the core aspects of the reforms, including ending related subsidies and taxes.
It would also end the requirement for individuals to have insurance, instead providing incentives for people to purchase it on the open market.
?After years of Obamacare?s broken promises, House Republicans today took an important step,? House Energy and Commerce Committee chairman Greg Walden said in a statement.
?Simply put, we have a Better Way to deliver solutions that put patients ? not bureaucrats ? first, and we are moving forward united in our efforts to rescue the American people from the mess Obamacare has created.?
Obamacare has stirred controversy since becoming law in 2010 under president Barack Obama and a Congress controlled by Democrats. But it has increased in popularity and is credited with helping 20 million Americans acquire coverage.
Republicans argue, however, that insurance premiums have soared for millions of Americans, and that Obamacare has been a job killer.
The new bill would preserve two popular Obamacare elements: prohibiting health insurers from denying coverage to people with pre-existing conditions, and allowing dependents to remain on their parents? plans until age 26.
Republicans have not provided a cost figure for the new plan, or estimates on how many people might be covered.
The legislation requires passage by the House of Representatives and Senate before it goes to Trump for his signature.