Sen. Rand Paul (R-KY) joined "Fox & Friends" Tuesday to offer his take on the House GOP's health care bill to replace Obamacare, which was released Monday.

Paul said he spoke with President Donald Trump, who according to the senator is open-minded on negotiating the new bill.

"I like the president's statements that it's up for negotiation, and I think those have begun. ... He wants Obamacare repealed like all conservatives do, but he realizes that conservatives have a lot of objections," Paul said.

The new plan would repeal all taxes and subsidies on the current Affordable Care Act and instead offer the same tax breaks to individual workers as the government would to businesses.

However, Paul said there would be tax penalties for people who drop their insurance and want to buy it again. But he said those penalties would be paid to insurance companies, not the government, which Paul said is likely unconstitutional.

Paul reiterated that conservatives are not going to accept "Obamacare Lite."

Watch the full interview with Paul above.

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