McConnell says Senate Republicans might revisit Obamacare repeal

Alicia Farmer
October 18, 2018

"It's no secret that we preferred to start over" to repeal and replace Obamacare, he said.

"The deficit increase is "disturbing" because of the trillion-dollar tax break Trump and Republicans gave to the rich and big corporations", DNC spokesperson Daniel Wessel said in a statement Tuesday "The Trump tax law was always a scam, and now Republicans are suggesting taking seniors and middle-class families to the cleaners by gutting Medicare, Medicaid and Social Security to help pay for it".

"I think it's pretty safe to say that entitlement changes, which is the real driver of the debt by any objective standard, may well be hard if not impossible to achieve when you have unified government", McConnell told Bloomberg. Higher spending and flat tax revenue pushed the nation's debt burden higher. The new tax law lowered income taxes for most Americans and slashed the corporate tax rate from 35 percent to just 21 percent, the largest one-time rate cut in US history for the nation's largest companies.

In a wide-ranging briefing with reporters in the Capitol, McConnell said that the GOP probably has "a slight edge" to hang onto its Senate majority in next month's midterms, while also promising he would not change Senate filibuster rules to allow legislation to move more freely - as the President has repeatedly demanded.

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The context: McConnell's comments, in an interview with Bloomberg, come a day after the Treasury Department said that the deficit grew to $779 billion in fiscal 2018, up 17 percent from the year before.

The report cited higher military spending as a reason for the increase and showed government revenues were flat after deep tax cuts pushed through late previous year by Republicans, despite a growing economy and rising spending levels.

It's true that, as the population ages, Medicare and Social Security are the main drivers of projected long-term US debt, along with rising interest payments.

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