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Republican health-care bill will 'do great damage to our country,' GOP lawmaker says

The Republican health-care bill is the largest Republican welfare proposal in the history of the party and will do "great damage to our country," GOP Rep. Mo Brooks told CNBC on Tuesday.

"It creates a huge new welfare program where taxpayers' dollars are being used to subsidize insurance companies, and over the long haul that is going to result in either higher premiums or higher taxes, or greater deficit and higher debt that's going to burden our economy for years, maybe decades to come," the congressman from Alabama said in an interview with "Closing Bell."

Brooks is a member of the Conservative group Freedom Caucus, which is threatening to issue a formal statement of opposition to the bill unless language in the legislation changes dramatically by Wednesday night.

The vote is scheduled in the House on Thursday.

In an effort to court the more right-leaning members of the party, GOP leadership unveiled several changes to the American Health Care Act on Monday. The revisions include speeding up the repeal of Obamacare taxes by one year, to 2017.

President Donald Trump reportedly warned members of his party on Tuesday morning that many of them could lose their seats next year if they vote against the bill. House Speaker Paul Ryan said Tuesday he agreed with that admonition.

However, many Conservative lawmakers still remain unswayed, complaining it does not go far enough in repealing Obamacare.

"As of this point in time, there are enough Conservatives left in the House of Representatives to where this big government, big welfare program cannot pass."

However, that doesn't mean he thinks the bill is dead on arrival.

"The president and the House leadership are working very hard to twist some arms and try to get people to change positions," Brooks said.

And he isn't buying the argument that a delay in a health-care bill will stall tax reform, calling it "fiction."

"We could be dealing with tax reform today if we wanted to. There is nothing that prevents us from doing that," Brooks said.

— CNBC's Dan Mangan contributed to this report.