Congressman Leonard Lance (NJ-07) today backed the first ObamaCare repeal and replacement effort that will be sent to the President’s desk. The legislative package, H.R. 3762, the Restoring Americans’ Healthcare Freedom Reconciliation Act, marks the first time a repeal and replacement plan has passed both the U.S. House and U.S. Senate and sets the stage for a new President to sign a new health care system into law in 2017.
“Our action here in the House today is an important step toward replacing ObamaCare with patient-centric solutions that lower health care costs, protect jobs and allow Americans to keep their doctors and their health care if they like them,” Lance said in his remarks on the House Floor before the vote. “This bill effectively repeals mandates and taxes at the very heart of the law and saves taxpayers nearly one-half trillion dollars over the next decade according to the non-partisan Congressional Budget Office.”
H.R. 3762 enacts the following:
- Repeals taxes and mandate penalties costing $800 billion
- Reduces the deficit by $516 billion over a ten year period
- Eliminates the Individual Mandate penalty tax
- Eliminates the Employer Mandate penalty tax
- Repeals all Obamacare taxes including:
- 40 percent Excise Tax on High Cost Health Plans
- Medical Device Tax
- Health insurance Tax
- Payroll tax on wages and self-income and the tax on dividends, capital gains and other investment income
- Repeals the taxpayer Obamacare Slush Fund
- Redirects millions of funds for women’s health care to Community Health Centers and away from Planned Parenthood
- Provides grants to States to respond to the substance abuse public health crisis and mental health needs
“There is more work that needs to be done to make full repeal and replacement a reality, but our congressional efforts today provide important momentum to help make that a reality in 2017 with a new President,” concluded Lance.