For lower-income Americans, the bill carves into Medicaid, shifting poor people out of the program and into private coverage where they could face deductibles reaching thousands of dollars.

The Congressional Budget Office released its analysis of the revised GOP health plan, the Better Care Reconciliation Act.

This week marked the deadline for many insurers to file their premium rates for Obamacare participation in 2018.

President Trump has cheered on some of Obamacares troubles, using them to justify his partys efforts to repeal the law.

The administration doesnt provide details on where exactly the cuts would come from, citing 'consolidations and structural changes' as well as cutting administrative costs and a 'rebalance' of government funding for research.

The bill would cut taxes to the tune of about $575 billion over a decade, mainly on the wealthy and health-insurance companies. It would limit money channeled to low-income people, raise costs for older Americans and wind down the expansion of Medicaid.

The American Medical Association and the American Hospital Association have both said they cannot support the American Health Care Act in its current form.

President Trump took to Twitter to tout the new plan: 'Our wonderful new Healthcare Bill is now out for review and negotiation. ObamaCare is a complete and total disaster - is imploding fast!'