Repealing health care law will be the first objective of Republicans in the House. However experts are saying that the revoke will endanger financial security of more than 32 million people of the USA due to lack of insurance coverage for them.

This would also cause to a larger financial deficit with a raise of $230 billion for the American economy. People will be forced to pay for private health insurance after the cancellation of Obama’s health care law.

Though the opposition has already initiated the process of repeal, they would need a majority in the House. The Republicans have also pledged to minimize financial deficit by introducing a better bill that would replace the health care law.

The experts predict a new trend in the changing political scenario, where the Republicans will control  the House. for Democrats President Obama’s healthcare law is one of their landmark achievements that they will try to retain any how. But even if they succeed in retaining the law, the opposition will create obstacle in its funding.

According to the financial analysis made by CBO [Congressional Budget Office], the repeal of health care law will cost around $145 billion in the initial stage and will reach $230 billion approximately by 2021. Thus, not only it would raise the burden of taxes on Americans but would also hamper many other activities due to shift of funds.

Republicans are preparing to repeal Obama’s health care bill by passing another bill opposite to it. However, Republicans are not likely to win. This will be the first session of Congress with Republicans in majority following their victory in midterm polls in November. The opposition wants to challenge Obama’s milestone work in his tenure—heath care law.

The House of Representatives under Republicans’ dominance is heading to repeal the health care law on January 12, stated the party spokesperson Dayspring and hoped it would pass through. He further added that the healthcare law denied jobs in small and large scale businesses therefore Republicans want to revoke it.  Despite Republicans’ majority, Democrats still control the Senate and they would never let the opposition repeal healthcare law.

Democrats warned John Boehner, the new would be speaker for House that canceling the healthcare law would not be good for the welfare of people as it reduces consumer benefits and they would try their best to retain the law.

The warning came in a letter sent to the incoming speaker by senior Democrat leaders. However, an opinion poll reflected confused voters over the issue. The repeal bill seems to be a focus of Republicans’ campaign in House for the incoming session of the Congress. The opposition will try to block funding of the healthcare law even if they fail in revoking it.