The Wall Street Journal endorsed the House GOP healthcare plan on Tuesday, warning in an editorial that Republican lawmakers have only this one chance to repeal and replace ObamaCare.

“If conservatives fumble this repeal-and-replace moment, they won’t get another chance,” the Journal’s editorial board wrote. “And they’ll have squandered their best opening in a generation to control the size and scope of the federal Leviathan.”

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The Journal op-ed largely praised the Republican healthcare the plan, known as the American Health Care Act, especially its cuts to Medicaid and ObamaCare’s penalty on “uninsured incomes.”

“Conservative critics are discounting these and other benefits because the bill isn’t everything they imagine, but they’re missing the larger and rarer opportunity,” it argues.

The op-ed says that the recent Congressional Budget Office analysis showed “a far-reaching advance for the market principles and limited government that conservatives usually favor,” despite also estimating that 24 million Americans could lose health insurance by 2026.

“If its projections are even close to accurate then ObamaCare repeal and replacement is the most significant government reform in perhaps three decades.”

“Absent reform, the brutal budget math is that the U.S. is headed for a debt crisis. … The longer Washington waits, the more painful and politically convulsive the corrections will be,” it adds.