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Could be the most extreme yet. our correspondent phil matingly is on capitol hill that would make major changes to medicaid and preexisting coverage while transforing more of the decision making power to the states and taking the decisions away from the federal government. talk about the new plan where support stands right now and why the process seems to be very much rushed this time. >> it's a compressed time table, but it has to be. senate republican fist they want to pass this repeal and replace effort, the latest repeal and replace effort, they have to do it by september 30th if they want...

Didn't do it in '09. >> what a mess. the congressional budget office says it may take several weeks to release an analysis. it remains to be seen how many people could lose coverage. if they plan to act they have to move quickly. phil mattingly has more from capitol hill. >> reporter: the words you heard in the weeks leading up to last week were dead. buried. the gone. maybe try it again next wear or the year after. that's where it stood. no longer. the effort right now is very real and serious. and by the way on a very compressed timetable. republicans considering a new proposal to replace th...

Course of the last nine months they have not been able to succeed in. they need to do that by september 30th if they want to do it under budget rules by a simple majority vote. that's exactly why you see republican senators today still trying to get their heads around what's actually happening. seven days ago this wasn't even an option, something senate leaders were taking seriously. now they are. the reason why? their conference said they want to give it another shot. what is actually in this bill, wolf, is extremely important. it's a bill that democrats, including chuck schumer, the senate d...

Wonderful, don't worry about the debt. that's probably the right thing. that's what i see happening. they've got to get something done. >> probably right about that, i do not think this will be a revenue-neutral plan. i think this will be sold as a tax cut for families and businesses. and i think republicans will say, look, we're going to grow the economy, we're going to put more people to work. that's a good way to get more tax revenues. because of these arcane budget rules, the republicans are probably looking at a ten-year -- can call that temporary, i don't know if ten years s is is tempor...

Of. newt gingrich said he thinks it's a 50% shot we get that done. those aren't great odds. >>let me emphasize a couple of points. the president wants a big, big tax cut. there's some republicans in congress that are talking about making tax reform revenue neutral. that means they're not cutting taxes. we don't need revenue neutral. we need a big tax cut on you, families who are struggling, small businesses. and i laid out today how we do it. we do that under the budget rules by having a 30-year budget window, which means we can have is big tax cut that isn't revenue neutral that lasts for 30 ...