The amendment would have blocked $1.2 trillion in Medicaid cuts.
Rep. Paul Ryan said the House won't consider a temporary patch.
Sen. Ben Sasse (R-Neb.) said the measure ignores an "overarching problem."
Senators have proposed 85 healthcare-related amendments.
The White House blessing is good news for John Boehner and Nancy Pelosi.
The possible 2016 candidate said it should be thrown on the "ash heap of history."
The support comes despite concerns over children's heath insurance funding.
He portrays the bill as part of larger entitlement reform.
The bipartisan agreement on Medicare is opposed by Planned Parenthood.
Senate Minority Leader Harry Reid (D-Nev.) suggested House legislation could get to the Senate late...
“I personally am going to wait until we see it having passed the House," he said.
Planned Parenthood opposes the Medicare deal over abortion provisions.
Only a small group in the House opposed the $200 billion legislation.
Lawmakers endorsed a rare bipartisan deal that Speaker Boehner negotiated with Democrats.
The vote in the Senate could take place as early as Friday.
Boehner wrote that the deal is a "big win for conservatives."
Senators blocked a Democratic attempt to overcome a procedural hurdle.
But the CBO also found that the bill would cost less than keeping current payment rates.
The president is celebrating ObamaCare's fifth anniversary.
The president said he's prepared: "I've got my pen ready."
House Rules Committee Chairman Sessions claimed the law will cost $5 million per person.
The GOP senator is signing up one day after launching his presidential bid.
Rep. Steny Hoyer said Senate Democrats will see "this is a good bill that does good things."
Only 4 percent of households received the correct subsidy.