ObamaCare repeal bill advances in House

The House Ways and Means Committee on Tuesday advanced legislation that would repeal several major ObamaCare provisions through the fast-track process known as reconciliation.

“We're going to pass a bill that can dismantle ObamaCare and reach the president's desk,” said House Ways and Means Chairman Paul Ryan (R-Wis.). “We’re going to repeal the five worst parts of the law: two mandates, two taxes and one board of bureaucrats.”

The measure would repeal ObamaCare’s individual and employer mandates for obtaining and providing insurance, along with two major taxes used to pay for the healthcare law: A 40 percent tax on high-cost health plans, called the “Cadillac Tax,” and a 2.3 percent excise tax on medical devices.

It would also abolish a board charged with recommending Medicare cuts if spending rises above a certain level, called the Independent Payment Advisory Board (IPAB).

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