Trump signs bill to replace Obamacare with ‘Medicare for All’

President Donald Trump signed a bipartisan bill Wednesday that would make the U.S. health care system more affordable and give all Americans access to high-quality, high-deductible health insurance.

The Senate GOP-backed health care bill, which Trump signed Wednesday night, was the culmination of a year-long effort by Republican senators and lawmakers to replace the Affordable Care Act with something that would expand access to affordable coverage.

Trump’s signature on the legislation, known as the American Health Care Act, is the culmination for months of intense lobbying and the first major legislative effort to expand access since the 2016 election.

The GOP bill would offer private insurance plans to people making up to $47,500 per year for people earning up to 400 percent of the federal poverty level, the poverty line for an individual.

The bill also allows insurers to sell plans with no co-payments or deductibles to people earning between 100 percent and 400 percent, the lower end of the income range under current law.

It would also allow employers to sell health plans on federal health insurance exchanges and provide health insurance subsidies to help people buy insurance.

It also gives states greater flexibility in how they would distribute federal funds to help low-income people purchase insurance, and the GOP bill provides more tax breaks for companies that provide health coverage to employees and their dependents.

The bill would provide a tax credit of up to 100 percent of premiums to people buying insurance on federal exchanges, with the tax credit capped at $2,000 per family per year.

The legislation would also give states the ability to set their own Medicaid eligibility guidelines, expand Medicaid, provide more tax credits for small businesses, and expand the federal-state health care program for low- and moderate-income adults.

The bipartisan effort to replace and replace the ACA passed the Senate last month with support from eight Republican senators.

Republicans in the House of Representatives also backed the measure.

The White House said Trump had signed the bill as a favor to his wife, Melania, who is the first lady of the United States.

“This legislation is a big win for American families, and it will make health care better for our country and the American people,” said White House press secretary Sarah Huckabee Sanders in a statement.

Trump said in a tweet Wednesday that “the health care industry and the insurance companies that make a fortune on selling health insurance have a huge influence over who we elect to represent us in Washington.

That is why we have passed the Affordable Healthcare Act with bipartisan support.”

Sanders added that “this legislation will allow millions of Americans to access the health care they need without being put at a competitive disadvantage because of preexisting conditions.”

A new survey from the Kaiser Family Foundation found that more than 70 percent of Americans say they support the GOP health care plan, and more than two-thirds of those said it would “make it easier for them to buy health insurance.”

In addition, the nonpartisan Congressional Budget Office said in September that the GOP plan would result in 24 million fewer people with health insurance by 2026.