WASHINGTON, D.C.- The new Republican plan to dismantle Obamacare could leave millions of Americans without healthcare.
"The Republican bill pushes 24 million people off of health care -- off of health coverage. This is a remarkable figure as it speaks so eloquently to the cruelty of the bill that the speaker calls an act of mercy,” said Rep. Nancy Pelosi, (D) Minority Leader.
The U.S. Congressional Budget Office forecasts that 24 million more Americans would be uninsured by 2026, totaling 52 million uninsured Americans in the next decades, starting with 14 million Americans losing their insurance by next year.
Under the new plan, the average insurance premiums are expected to jump up to 20% in 2018 and 2019, but after that, they would decrease.
"More competition and less regulation will finally bring down the cost of care, and I think it will bring it down very significantly. Unfortunately, it takes a while to get there because you have to let that marketplace kick in,” President Donald Trump said.
By 2026, the average premiums would be roughly 10% lower than the current system.
The bill, The American Health Care Act, would slice $337 billion off the Federal deficit within 10 years.
After the release of the CBO report, the House Budget Committee has postponed its consideration of the bill from Wednesday to Thursday.
If it comes out of committee, it will head to the Senate with a lot of jockeying between now and then.