Trump Turns to Tax Reform after Healthcare Failure

Trump: “We will all get together and piece together a great healthcare plan for THE PEOPLE. Do not worry!”

Following his failure to get the bill through Congress on Friday, President Trump says he will now turn to tax reform.

The draft healthcare bill would have scrapped Obamacare, which the Republicans have opposed for years.

Although Obamacare requires all Americans to have healthcare, it provides subsidies to people with low incomes.

The draft bill had to be withdrawn because of the lack of support from the Republicans. This is a major setback for the new President since Republicans control both the houses of the Congress, and Mr. Trump campaigned on his skills as a dealmaker.

President Trump told reporters at the White House that:

“I would say that we will probably start going very, very strong for the big tax cuts and tax reform. That will be next.”

The tax cuts are going to add to the federal budget deficit now since they were supposed to be paid by savings from the new healthcare bill (which has now been withdrawn).

Mr. Trump blamed Democrats in Congress for not backing his legislation, but it was House Republicans who played a major role in not letting the bill pass through Congress. “Doing big things is hard,” said House Speaker Paul Ryan when he could not get enough support from his own party.

Although it is Mr. Ryan’s job as a House Speaker to rally support for controversial bills like this one, President Trump refrained from criticizing him.

Mr. Trump said:

“We learned about loyalty; we learned a lot about the vote-getting process.”

On Saturday, he reiterated his claim that Obamacare would “explode” in a tweet:

 “We will all get together and piece together a great healthcare plan for THE PEOPLE. Do not worry!”

The Affordable Care Act has come under attack due to rising premiums. Uninsured Americans also have to pay tax penalties under Obamacare, many of them are low- to moderate-income earners.

The Act, however, prohibits insurance companies from denying health insurance to people with pre-existing health conditions and also permits young people to stay on their parents’ insurance plans until age 26.

Steve Mnuchin, Treasury Secretary, said on Friday that tax reforms are “a lot simpler” than healthcare reform in many ways. He stated that it remained his goal to get the tax measures pass through the Congress by August this year.

Sean Spicer admitted that this goal was an “ambitious” one, but said that the administration is “going to try to stick to” it.