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Hold That 'Pig': GOP's Corker Says of Obamacare

Tuesday, 9 Jul 2013 | 9:21 AM ET
How New Bill Aims to End Bailouts
Tuesday, 9 Jul 2013 | 8:04 AM ET
Sen. Bob Corker, (R-TN), provides his views on reforming home finance by introducing bipartisan legislation that will replace Fannie Mae and Freddie Mac with a privately capitalized system.

Implementation of President Barack Obama's health-care reform law needs to be put on "permanent hold," Sen. Bob Corker, R-Tenn., told CNBC on Tuesday.

"We've gone beyond the romance of all of this," he said in a "Squawk Box" interview. "The makeup and lipstick are off. People are waking up to look at this bill. It is a serious pig."

Last week, the Obama administration announced a one-year delay in a major provision of the president's law, saying it won't require employers with 50 workers or more to provide insurance benefits until 2015.

(Read More: Here Are Winners and Losers in Obamacare Delay)

Days after that delay, the White House decided to roll back requirements for new state online insurance marketplaces to verify the income and health coverage status of people who apply for subsidized coverage.

This week, it was reported that the Obama administration has quietly notified insurers that a computer system glitch will limit penalties that the law says the companies may charge smokers.

The health-care law is slated to begin offering health coverage through state marketplaces, or exchanges, beginning Oct. 1.

(Read More: No More Health Exchange Delays: Obama's Tech Guy)

"We need to stop. We need to put this on permanent hold. And we need to fix it," Corker said. "Hopefully we can slow this down and really start all over."

By CNBC's Matthew J. Belvedere. Follow him on Twitter @Matt_SquawkCNBC. Reuters and The Associated Press contributed to this report.

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