Thursday, May 4, 2017

DAY 105: Republicans in the House pass Trumpcare by a mere 2 votes... and stocks go down

By a mere 2 votes (217 yes, 193 no and 1 abstention), Republicans passed the American Health Care Act, also known as Trumpcare, thereby giving rich people a huge $1 trillion dollar tax cut and a huge increase in premiums for al Americans, but specially for people with pre-existing conditions.

But guess what? Right after the vote, the stock market saw a pretty big dive:



In other words, even the makets know this is a terrible bill. It fixes nothing and it is only used as a political tactic, so Republicans can say they "repealed" Obamacare and Donald Trump can say he finally had a "win."

Now the bill goes to the Senate, where it is expected to be modified. It is difficult to say what will be the scope of the modifications, though.


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