House Republicans on Monday released their first detailed proposal to replace Obamacare. The legislation woud dismantle much of the 2010 Affordable Care Act and creates a new, refundable tax credit tied to an individual’s age and income aimed at helping Americans buy insurance if they don’t get it at work. The tax credits would replace the subsidies Obamacare gave to a smaller number of lower-income people to help them buy health insurance. It would end the mandate that individuals buy insurance or pay a penalty, as well as the requirement that larger businesses offer insurance to their employees. It would end increased funding in 2020 for expanding Medicaid for low-income individuals. In a provision sure to be controversial, the proposal bars federal funding for Planned Parenthood.
The Commerce Departmemnt reports the US trade deficit rose 9.6% to seasonally adjusted $48.5 billion in January from a revised $44.3 billion in December. That’s a five-year high. Economists expected $48.8 billion. The wider deficit was spurred by a 2.3% increase in imports of consumer goods such as cell phones from China and other countries and the higher cost of oil. Imports totaled $240.6 billion. Exports rose a smaller 0.6% to $192.1 billion.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
