Economic Insights – December 2016
Elections have consequences and the impact of the 2016 U.S. election on U.S. economic policy will be enormous.
One of the Republicans’ first tasks will be repealing much (but not all) of the Affordable Care Act, also known as Obamacare. To get that done, they will use the budget reconciliation process in the U.S. Senate, where they don’t need to break a filibuster with sixty votes; instead, they only need a simple majority. This budget process can be used to quickly eliminate three major components of the law: