GOP floats individual mandate repeal bill

Senate Republicans are proposing to repeal ObamaCare's requirement that most people carry health insurance.

Senate Finance Committee Chairman Orrin HatchOrrin Grant HatchFinance to hold hearing on ObamaCare repeal bill Overnight Finance: CBO to release limited analysis of ObamaCare repeal bill | DOJ investigates Equifax stock sales | House weighs tougher rules for banks dealing with North Korea Week ahead in finance: Clock ticking for GOP on tax reform MORE (R-Utah), and Health, Education, Labor and Pensions Committee Chairman Lamar AlexanderAndrew (Lamar) Lamar AlexanderWeek ahead: Senators near deal to stabilize ObamaCare markets Corker pressed as reelection challenges mount Overnight Health Care: CBO predicts 15 percent ObamaCare premium hike | Trump calls Sanders single-payer plan ‘curse on the US’ | Republican seeks score of Sanders’s bill MORE (R-Tenn.) reintroduced the American Liberty Restoration Act on Wednesday, along with 20 other senators.

The measure would stop the government from enforcing the individual mandate upon its passage. The requirement went into effect in 2014, and this tax season is the first time some will have to pay a fine for remaining uninsured.

Alexander suggested that the individual mandate was inappropriate given the plaintiffs' argument in King v. Burwell, a case that challenges the validity of subsidies issued on the federal exchanges.

“How can we continue to enforce the individual mandate when the law doesn’t clearly ensure that millions of Americans are allowed to receive subsidies to help cover the cost?" Alexander said in a statement.

"How can we enforce it when ObamaCare outlaws plans that fit family budgets? Millions more Americans are in for sticker shock when they see how much they owe the IRS in April because of ObamaCare."

The bill died in committee last Congress but has a chance of passing the Senate now that Republicans control the chamber.

Repealing the individual mandate would essentially gut the healthcare law by making the insurance exchanges unworkable.