Failure to Repeal Obamacare Would Endanger Tax-Cut Goals, Some in GOP Warn
- Trump says no ‘very big tax cut’ until Obamacare repealed
- Obstacles seen remaining after House leaders tweak health bill
The GOP Alternative to Obamacare Explained
Top Republicans are warning their fellow party members that failing to repeal Obamacare could imperil the goal of a massive tax cut -- and perhaps more of President Donald Trump’s legislative agenda.
As a health-care replacement bill backed by House Speaker Paul Ryan struggles to gain support from House conservatives and Senate Republicans, some GOP lawmakers argue that a once-in-a-generation opportunity to overhaul the U.S. tax code with stout cuts in tax rates for businesses and individuals depends on the outcome. U.S. stocks have rallied since Trump’s election, with the Standard & Poor’s 500 Index reaching a record high earlier this month, buoyed in part by the expectation of corporate tax cuts. The index had declined Tuesday by almost 1 percent to 2,352.52 at 1:15 p.m. in New York.