Market Overview

ACA Repeal Efforts May Be 'Dead For Now'

ACA Repeal Efforts May Be 'Dead For Now'
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By Laurel Kraus

A Height Securities research note published Wednesday morning stated its analysts “believe ACA repeal efforts are dead for now as the Congress pivots its energy toward other legislative priorities.”

Talks have begun again between the White House and House Republican Leadership after last Friday’s halt in the American Health Care Act of 2017, but Height Securities claimed “nothing has changed since last Friday.”

The legislation was ultimately pulled after moderate and conservative Republicans could not agree on the details.

'Dead For Now'

“I don’t know what has changed,” Rep. Jim McGovern, D—Mass., told the New York Times. “The bill went down because it was too bad for Republican moderates and not bad enough for their conservatives. I don’t know how they reconcile the divides within their own conference, never mind find any Democratic votes.”

In an effort to repeal and replace the Affordable Care Act, the AHCA would have canceled taxes put in place by the ACA, as well as cut off federal funding to Planned Parenthood for one year.

Senate Majority Leader Mitch McConnell spoke to reporters on Tuesday about the setback.

“Our Democratic friends ought to be pretty happy about that because we have the existing law in place and I think we’re just going to have to see how that works out,” McConnell said. “They have an opportunity now to have the status quo go forward, regretfully.”

Amid the discussions in Washington, the Health Care SPDR (ETF) (NYSE: XLV) has traded up 0.5 percent so far this week, while the iShares NASDAQ Biotechnology Index (ETF) (NYSE: IBB) is up about 2 percent.

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Posted-In: AHCAAnalyst Color Sector ETFs Health Care Politics Analyst Ratings ETFs General Best of Benzinga


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