Republican push to gut Obamacare ends in defeat for Trump

WASHINGTON - In a stinging blow to President Trump. Senate Republicans failed on Friday to dismantle Obamacare, falling short on a major campaign promise and perhaps ending a seven- year quest by their party to gut the healthcare law.

Voting in the early hours, three Republican senators, John McCain, Susan Collins and Lisa Murkowski, crossed party lines to join Democrats in a dramatic 5l-to-49 vote to reject a "skinny repeal" bill that would have killed some parts of Obamacare.

"This is clearly a disappointing moment," Senate Republican leader Mitch McConnell said on an eerily quiet Senate floor right after the vote. "The American people arc going to regret that we couldn't find a better way forward."

Trump's failure sent the dollar down against a basket of other currencies on Friday.

The setback leaves him without a major legislative win after more than six months in power, despite Republicans controlling the White House, Senate and House. He had been expected to make rapid changes to healthcare, taxes and infrastructure spending.

"3 Republicans and 48 Democrats let the American people down. As I said from the beginning, let Obamacare implode, then deal. Watch!" Trump tweeted after the vote.

Trump has repeatedly berated congressional Republicans for being unable to overcome internal divisions to repeal Obamacare, but has offered no legislation himself, nor any clear guidance on what he would like to do about replacing the law.

The president has demanded at various times that Obamacare should be allowed to collapse on its own, that it should be repealed without replacement and mat it should be repealed and replaced.

The voting down of the bill still leaves uncertainty in the healthcare industry, with insurers not sure how long the Trump administration will continue to make billions of dollars in Obamacare payments that help cover out-of-pocket medical expenses for low-income Americans.

Insurers have until September to set rates for 2018 health plans in many marketplaces. Some insurers, including Anthem Inc. Humana and Aetna, have pulled out of Obamacare markets, citing the uncertainty over the payments. Others have raised rates by double digits.