by Christopher Freeburn | September 20, 2013 12:13 pm
With a vote of 230 to 189, Republicans in the U.S. House of Representatives carried through on a promise to tie defunding President Barack Obama’s health care initiative to a stopgap spending bill need to keep the government running.
Observers had expected the House to pass the bill, which substitutes a plan to offer tax incentives to people who buy their own health insurance in place of President Obama’s Affordable Care Act. However, it faces almost certain defeat in the Senate, which is under Democrat control, FOX News notes.
The Senate will likely strip the language defunding Obamacare from the bill and sent it back to the house. A failure to resolve differences between the two chambers — and the parties that control them — over Obamacare could lead to a government shut down. Current funding for U.S. government operations will run out on October 1.
The House bill would provide funding to keep government offices open and services running through December, while delaying the implementation of Obamacare. In its place, it would provide tax deductions of $7,500 for individuals and $20,000 for families who purchase health coverage through state-operated insurance exchanges.
Senate Democrats have denounced proposals to defund Obamacare and President Obama has signaled that he will veto any legislation that links government funding to his health care plan.
Want to share your own views on money and politics? Drop us a line at firstname.lastname@example.org and we might reprint your views in our InvestorPolitics blog! Please include your name, city and state of residence. All letters submitted to this address will be considered for publication.
Source URL: http://investorplace.com/investorpolitics/house-passes-bill-to-defund-obamacare/
Short URL: http://investorplace.com/?p=406875
Copyright ©2016 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.