Senate Lawmakers Address The Press After Their Weekly Policy Luncheons

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The Congressional Budget Office said on Wednesday that the U.S. Senate's plan to repeal the Affordable Care Act (ACA) — commonly known as Obamacare — would result in 27 million more uninsured Americans by 2020.

Repealing the Obama-era legislation would lower the federal deficit by $473 billion, but double consumer's premiums by 2026. The biggest cost saving would come through controversial cuts to Medicaid, although the bill's tax cuts would offset incoming revenue by $613 billion.

CBO's score came amidst uncertainty over whether a Republican-controlled Congress will be able to repeal the landmark health reform at all.

Senate Majority Leader Mitch McConnell (R-Ky) had to ditch his effort to replace the ACA after both conservative and moderate senators said they would oppose the bill's procession through the chamber.

McConnell announced on Monday that the Senate would vote on repeal without a replacement. Prospects for that bill's passage quickly vanished after three Republican Senators said they would oppose a clean repeal.

Editor's Note: This is a breaking news story and will be updated with additional information. 

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