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President Donald Trump Approves Republican Tax-Credit Proposal on Obamacare

Update Date: Mar 02, 2017 07:10 AM EST

During President Donald Trump's speech to the Congress last Tuesday, February 28, he has already backed the use of tax credits in purchasing health insurances. This is also the first time that he has affirmed his support to replace Obamacare.

However, despite bring united to oppose former Democratic President Barack Obama's signature 2010 healthcare law, the Republicans who control the White House and the Congress failed to arrive on concrete details on how to replace Obamacare.

Reuters quotes, "We should help Americans purchase their own coverage, through the use of tax credits and expanded Health Savings Accounts," President Donald Trump explained during his speech. "But it must be the plan they want, not the plan forced on them by our government, " the president further added.

However, Democrats are still opposed to the changes that will be implemented with the Obamacare as it will affect millions of US citizens that were initially uninsured people.

Yet, a drafted Republican replacement for Obamacare already is already available and includes an age-based monthly tax credit that Americans who do not get health insurance from their work, could use to buy health coverage and can be used even as they transfer from one job to another. Some Republicans, however, showed resistance to this plan, but health insurers who have already met with President Donald Trump prior to the Congress meeting already implied the importance of tax credits to keep people in the market.

President Donald Trump also expressed an intention to repeal and replace Obamacare. "I am also calling on this Congress to repeal and replace Obamacare, with reforms that expand choice, increase access, lower costs, and at the same time, provide better healthcare," Trump said as quoted by The Guardian. He also further discusses that it should not be a mandate for American citizens to purchase a government-approved health insurance unless they want too.

The Obamacare, which President Donald Trump wants to remove, provided insurance to more than 20 million Americans via subsidized individual insurance plans that expand the public insurance program Medicaid. This program also creates consumer protections that dictate which benefits must be available in each of the health plans.

See Now: What Republicans Don't Want You To Know About Obamacare

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