After House Republicans on Monday evening unveiled legislation to repeal and replace the Affordable Care Act, Sen. Rand Paul (R-KY) was quick to predict on Tuesday morning that the bill would not pass in its current form

“This is Obamacare lite. It will not pass. Conservatives aren’t going to take it,” Paul told “Fox and Friends.”

He said that the draft legislation revealed on Monday will not address issues with health insurance in the United States.

“It won’t work. Premiums and prices will continue to spiral out of control,” Paul said. “We have completely broken the insurance marketplace. Obamacare lite doesn’t fix it. It is a real mistake to go for this.”

Paul listed a few issues he sees in the bill.

“This plan keeps the Obamacare taxes for another year, keeps the cadillac tax forever. It keeps an individual mandate,” he said.

He also took issue with a provision that would allow insurance companies to charge consumers a 30 percent surcharge if they have a gap in health insurance coverage.

“If you drop your insurance and then want to buy it again there is a penalty. Under Obamacare you had to pay the government the penalty. Under Obamacare lite, the House leadership plan, you will pay the penalty to the insurance company. This is all likelihood unconstitutional,” Paul told “Fox and Friends.” “It is the individual mandate but you pay your penalty not to the government, to a private insurance company. So much of their bill is bailout for the insurance companies.”