Friday, January 21, 2011

OBAMACARE repealed in the House. Now What?

The House of Representatives repealed the Obamacare bill with 245 republican votes in favor and 189 Democrat votes against. (Three Democrats also voted for the repeal.)

The Congressional Budget Office (CBO) has said that aprox. $20 billion is needed in about 10 years to meet all of the bill's requirements. 
For those who think this was a futile exercise, remember that the House Appropriations Committee plays an important role to halt the implementation of Obamacare by controlling the funds the agencies need to implement the law. The House said the first step will be to cancel the $12 billion assigned to the IRS for agents to enforce the law. 

Next stop is the US Senate, where Sen. Harry Reid said he will stop the bill from moving forward. In the meantime, the House plans to draft and move forward with legislation that will replace the Obamacare Bill.
FYI -Twenty six states have filed lawsuits against the Obamacare bill.