John McCain introduced legislation Wednesday to repeal and replace the Affordable Care Act, citing an overdue responsibility of the Republican Party to present an alternative to the president's health law.
"Obamacare is a failure and the American people do not believe in it," the Republican senator from Arizona said on the Senate floor. "It isn't just the problems with the rollout and the website. We need to repeal this horrendous mistake."
The McCain plan would make tax deductions and advance credits available for purchasing insurance; create more affordable options for people with preexisting conditions; aim to stop frivolous lawsuits against providers; establish quality measures; and offer discounts to healthy individuals.
McCain said his alternative would save the United States $2.37 trillion over the first decade.
He cited low public opinion of Obamacare, "redistribution of wealth," a "destructive" tax on medical devices, and the disappointment for Americans who have received cancellation notices among his many reasons for introducing the legislation.
Update (4:21 p.m. EST): The McCain bill is the Senate companion to the Empowering Patients First Act sponsored by Georgia Republican Rep. Tom Price earlier this year. There are no differences between the two pieces of legislation, according to a McCain aide. The section-by-section of the House bill is available here.