Hospital and medical school lobbying groups will spend at least $1 million on TV ads to oppose the Senate Republicans' plan to repeal and replace the Affordable Care Act, known as Obamacare, Bloomberg reports.
The bill, which has been put on hold until after the July 4 recess, is abhorred by Democrats and receiving growing opposition among Republicans. It is expected that this bill may leave about 22 million Americans without insurance.
"This bill would take us back in time, leaving over 20 million uninsured and creating a system that is not available or accessible to everyone," Sister Carol Keehan, CEO of the Catholic Health Association, said Tuesday on a conference call with reporters, Bloomberg noted.
The Coalition to Protect America's Healthcare is paying for the ad campaign.
What's Hot On TheStreet
The stock market may be overvalued: Now may be the time to pay extra attention to red-hot tech stocks such as Apple (AAPL) - Get Apple Inc. (AAPL) Report and Facebook (FB) - Get Facebook, Inc. Class A Report . As TheStreet first reported Tuesday afternoon, asset valuations are somewhat "rich" by standard metrics, Federal Reserve Chair Janet Yellen said in London during a conversation about economic issues with British Academy President Lord Nicholas Stern. Yellen's comments on equity valuation and bank strength closely mirrored Fed Vice Chairman Stanley Fischer's from an IMF event held earlier in the day.
The iPhone has changed how you make money: TheStreet's Scott Gamm is out with a piece that will really get you thinking. Apple's iPhone will turn 10 years old on Thursday. The device not only turned Apple into one of the world's most valuable companies, helping to boost its stock price more than 700%, it also changed the way we invest and trade stocks Gamm points out.
In fact, the original iPhone -- and the current versions -- have an internal stocks app, allowing users to check the broader market indexes and individual stock prices. Having this in your pocket was a big deal 10 years ago.
"I think it's actually made the life for a typical investor much easier," Angelo Zino, an analyst with CFRA Research, told TheStreet. "I think they've been able to tap news flows much quicker."
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