The daily business briefing: May 5, 2017

The House narrowly approves GOP plan to replace ObamaCare, April hiring rebounds after March slump, and more

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1. House narrowly passes plan to replace ObamaCare

The House narrowly approved the revised Republican plan to repeal and replace major elements of the Affordable Care Act on Thursday. The 217-213 vote put President Trump and GOP lawmakers a step closer to delivering on their promise to scrap ObamaCare after House Republicans came up short six weeks ago in their first attempt to push through the legislation. The bill's future is still uncertain, however, as provisions and spending cuts made to win over House conservatives are certain to face opposition in the Senate, where the GOP holds a narrow majority and Republicans have already rejected the House plan. House Speaker Paul Ryan (R-Wis.) said the GOP bill would rescue Americans from higher premiums and the "chaos" of ObamaCare, while Democrats warned moderate Republicans that they were committing "political suicide" by backing a bill that is unpopular with the public, as well as doctors and hospitals, and that would strip health insurance coverage from millions of Americans.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.