The new, Republican-controlled United States Congress, which is set to convene on 3 January, is ready to rescind major parts of outgoing President Barack Obama's healthcare law, along with rolling back some of Obama’s environmental and financial industry regulations, reported Reuters. Prominent Democrats on Monday (2 January) cautioned of a fierce fight over Obamacare. In the coming weeks, Republicans will try to steer legislation through Congress using procedures that would not require Democratic cooperation.
For years, Republicans have censured Obamacare, insisting it was hindering job growth. Besides the repeal of Obamacare, Republicans also want to decrease regulations aimed at controlling industrial emissions that contribute to climate change and also change banking industry reforms which were enacted in the wake of the near-collapse of Wall Street in 2008.
Senate Majority Leader Mitch McConnell said in an interview with Kentucky Educational Television on 19 December that his top priorities for the new Congress were dealing with "massive overregulation", which in his view has slowed down the US economy, and accomplishing tax code changes to stop companies from moving jobs offshore. The incoming administration seems to be all set to overturn Obama’s legacy, and they are aiming to do it in the first ninety days.
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