Follow CBSMIAMI.COM: Facebook | Twitter

WASHINGTON (CBSMiami) – President Donald Trump has backed away from his initial support for a bi-partisan plan to stabilize the health insurance markets.

READ MORE: Deadly Hollywood Shooting, One Person In Custody

The plan keeps the Affordable Care Act, aka Obamacare, subsidies for two years to help low income earners afford insurance. President Trump used his executive powers to strike them down last week.

It also does away with some Obamacare requirements in an attempt to garner GOP support.

READ MORE: 1 Dead, 1 Hospitalized In Homestead Double Shooting

After the president spoke approvingly of the deal, conservatives rebelled. The White House then insisted that Mr. Trump actually opposed the plan because it was a bailout of insurance companies, according to CBS News.

Republican Senator Lamar Alexander of Tennessee and Democratic Senator Patty Murray of Washington hope to present the bill to Senate leadership by the end of the week.

MORE NEWS: South Florida COVID-19 Test Sites See Long Lines As Cases Surge

President Trump maintains that the only long-term solution is to repeal and replace Obamacare.