The Senate has released a revised version of its Better Care Reconciliation Act of 2017 (BCRA), but leadership has announced that it will abandon this effort to repeal and replace the Patient Protection and Affordable Care Act (ACA) (P.L. 111-148). The bill is an amended version of the American Health Care Act (AHCA) (HR 1638) approved by the House on May 4 by a vote of 217 to 213. Like the House bill, the Senate bill would repeal the ACA individual and employer mandates, as well as most ACA excise taxes. Unlike the House bill, the revised Senate bill keeps in place the ACA taxes on higher-income individuals. Late in the day on July 17, Senate Majority Leader Mitch McConnell, R-KY, announced that the bill was being pulled from consideration because of the unlikelihood of passage.
For a complete analysis of the provisions of the revised Senate bill, with comparisons to the bill passed by the House and the original Senate proposal, as well as proposed amendments to the revised bill, see the CCH Tax Briefing at: https://www.cchgroup.com/media/wk/taa/pdfs/news-and-insights/federal-tax-legislation/aca-repeal-and-replacement.pdf.