Latest Senate ACA Repeal Effort Falls Short

Sovos
September 27, 2017

The Senate announced that the Graham-Cassidy bill to repeal the Affordable Care Act would not be brought forward to a vote. The bill was announced approximately two weeks ago and seemed to have some momentum. However, Senators McCain (R-AZ) and Paul (R-KY) quickly came out against the bill. On Monday, Senator Collins (R-ME) announced that she would vote no, leading to the bill's collapse.

Under the budget reconciliation process, the Senate could pass the bill with 50 votes, with Vice President Mike Pence casting a tie-breaking vote. As there are 52 Republicans in the Senate, the GOP could only afford to lose 2 votes. With Sen. Collins announcement, Republicans became officially 1 vote shy. The ability to pass a repeal of the ACA under the reconciliation process ends September 30. After that, any repeal effort would require a minimum of 60 votes. As it currently stands, the ACA is the law of the land.  All mandates and reporting requirements must continue to be met or penalties will be assessed.

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Sovos

Sovos is a global provider of tax, compliance and trust solutions and services that enable businesses to navigate an increasingly regulated world with true confidence. Purpose-built for always-on compliance capabilities, our scalable IT-driven solutions meet the demands of an evolving and complex global regulatory landscape. Sovos’ cloud-based software platform provides an unparalleled level of integration with business applications and government compliance processes. More than 100,000 customers in 100+ countries – including half the Fortune 500 – trust Sovos for their compliance needs. Sovos annually processes more than three billion transactions across 19,000 global tax jurisdictions. Bolstered by a robust partner program more than 400 strong, Sovos brings to bear an unrivaled global network for companies across industries and geographies. Founded in 1979, Sovos has operations across the Americas and Europe, and is owned by Hg and TA Associates.
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