John McCain Returning to Washington for Vote on Healthcare Bill

Despite his recent diagnosis with brain cancer and surgery to remove a related blood clot, 80-year-old Senator John McCain announced he will be returning to Washington DC from his home in Arizona to take part in a crucial vote on healthcare reform.

The Senate is scheduled to vote on a Republican sponsored healthcare bill which, if passed, could drastically undo much of Obamacare’s legislation. The fact that McCain is making a heroic effort to return to the Senate floor in time for this vote seems to indicate that his vote could make the difference in the bill’s passage.

Over the past few weeks the Republican bill has come within a hair’s breadth of its own demise several times as the GOP struggled to make good on its 7-year promise to “repeal and replace” the Affordable Care Act, Obama’s signature legislation.

At the moment, a Senate vote is predicted to be uncomfortably close; with 52 votes for the Republican bill, and 48 against, making McCain’s vote a key vote for success.

“For Senate Republicans, this is their chance to keep their promise. Over and over again, they said, ‘Repeal and replace, repeal and replace.’ But they can now keep their promise,” President Trump said.

The GOP legislation would eliminate tax penalties on people who do not buy health insurance policies; cut the Medicaid program which helps the poor; and would reduce the amount of government subsidies available for consumers who wish to purchase insurance but can’t afford it.

James Cannon

About James Cannon

James Cannon is an experienced hedge fund analyst. He has served on the advisory boards for various different Fortune 500 companies as well as serving as an adjunct professor of finance. James Cannon has written for a variety of Financial Magazines both on and off line. Contact James at james[at]businessdistrict.com