Larry Kudlow, the economist and former adviser to President Ronald Reagan, said the Republican plan reform the healthcare system and roll back parts of Obamacare is good for the U.S. economy.

He spoke as Senate Republican leaders delayed a vote on their healthcare bill until after the July 4 recess because they couldn’t get enough support to even begin debating the legislation.

“The roll-back of Obamacare is a significant tax cut and reduction in regulations,” Kudlow said on CNBC. “By itself, these reforms of Obamacare are good for health and they’re good for growth.”

The bill to change President Barack Obama’s 2010 health care law has been one of the party’s top priorities for years, and the delay is a major embarrassment to President Donald Trump and Senate Majority Leader Mitch McConnell, R-Ky. At least five GOP senators — conservatives and moderates — has said they would vote against beginning