By Julia Manchester - 07-29-17 12:58 PM EDT
President Trump on Saturday threatened to end key payments to insurance companies made under Obamacare if a repeal and replace bill is not passed.
"After seven years of 'talking' Repeal & Replace, the people of our great country are still being forced to live with imploding ObamaCare!" the president wrote in a tweet.
"If a new HealthCare Bill is not approved quickly, BAILOUTS for Insurance Companies and BAILOUTS for Members of Congress will end very soon!" he added.
After seven years of "talking" Repeal & Replace, the people of our great country are still being forced to live with imploding ObamaCare!
- Donald J. Trump (@realDonaldTrump) July 29, 2017
If a new HealthCare Bill is not approved quickly, BAILOUTS for Insurance Companies and BAILOUTS for Members of Congress will end very soon!
- Donald J. Trump (@realDonaldTrump) July 29, 2017
Trump has previously threatened to withhold the payments, known as Cost Sharing Reduction (CSR) payments, which lower the amount individuals have to pay for deductibles, copayments and insurance.
The White House announced earlier this month that key ObamaCare subsidies to insurers would be paid this month, however the administration did not make a commitment beyond July.
Trump's comments come after Senate Republican efforts to repeal and replace ObamaCare failed in the early hours of Friday morning after three Republicans and all 48 Democrats rejected pared-down repeal legislation, known as a "skinny" bill.
The issue is of critical importance to Republicans in all three branches of government because the party campaigned for seven years to repeal former President Barack Obama's signature healthcare law.
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