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"Obamacare Lite" is not a totally inaccurate description of GOP bill
J. Scott Applewhite / AP

It didn't take long for conservative groups to start calling the GOP's Obamacare replacement bill "Obamacare Lite." But as much as establishment Republicans hate the term, conservatives do have a point.

Conservatives are upset about the underlying principles of the bill being too similar to those of Obamacare. But the thing is, legislative reality — as well as politics — means almost all of Obamacare's market reforms and consumer protections will remain intact. Even GOP aides acknowledge that.

Which means yes, the Republican bill is making major spending and revenue reforms within the existing Obamacare regulatory system. And that's what has conservatives so upset. But the bill will undoubtedly make the spending, tax and coverage pieces of the bill much more conservative.