The bipartisan deal to stabilize ObamaCare’s markets has 24 co-sponsors, Senate Health Committee Chairman Lamar Alexander Andrew (Lamar) Lamar AlexanderMcConnell locks down key GOP votes in Supreme Court fight Alexander backs vote on Trump Supreme Court nominee: What Democrats 'would do if the shoe were on the other foot' Toobin: McConnell engaging in 'greatest act of hypocrisy in American political history' with Ginsburg replacement vote MORE (R-Tenn.) announced Thursday.

Twelve Republicans and 12 Democrats signed on to the bill, which would continue ObamaCare's insurer subsidies for two years and give states more flexibility to waive ObamaCare rules.

"This is a first step. Improve it and pass it sooner rather than later," Alexander said on the Senate floor.

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Trump announced last week he was canceling the payments, arguing the previous administration lacked the authority to make them.

But Democrats, and some Republicans, including Alexander, have pushed for Congress to temporarily fund the payments as a way to stabilize the ObamaCare markets.

If they don't, Alexander said, "there will be chaos in this country and millions of Americans will be hurt."

The nonpartisan Congressional Budget Office said canceling the insurer payments could lead to premium increases through 2020.

Republicans likely wouldn't put the bill on the floor of the Senate without the expressed approval from President Trump, who has sent mixed messages.

He has repeatedly referred to the insurer payments as a "bailout," which has been echoed by some conservative Republicans in Congress.

Responding to that criticism Thursday, Alexander said he was open to adding any language the White House might have to strengthen a provision already in the bill to ensure that insurers can’t keep the payments for themselves, but rather have to pass savings on to consumers in the form of rebates or another mechanism.

Alexander said he predicts the bill will pass by the end of the year. Some have suggested it could be attached to the end of year spending deal.

But the proposal might face an uphill battle in the House.

It received a cold reception from Speaker Paul Ryan Paul Davis RyanKenosha will be a good bellwether in 2020 At indoor rally, Pence says election runs through Wisconsin Juan Williams: Breaking down the debates MORE (R-Wis.), who said the Senate should instead focus on repealing ObamaCare.

But Alexander noted that the repeal bill passed by the House earlier in the year funded the insurer payments, known as cost-sharing reductions, for two years.

"Every Republican in the House of Representatives who voted to repeal and replace ObamaCare this year voted for a provision that continued the cost-sharing payments for two years. Our bill does the same thing," he said.

In a concession to Republicans, the bill would also grant states more flexibility to waive ObamaCare rules and allow the sale of less comprehensive, cheaper “copper” plans.

But some conservatives have said this isn't enough.

For those pushing for more conservative changes, Alexander said, "you can't get most of those changes without 60 votes in the United States Senate."

"We are certain that it can be improved, but I do not believe that Congress will want to deal with a problem that will hurt millions of Americans if we allow it to continue."

The Republican co-sponsors include Sens. Mike Rounds Marion (Mike) Michael RoundsChamber of Commerce endorses McSally for reelection Senate GOP eyes early exit Senate Republicans signal openness to working with Biden MORE (R-S.D.), Lindsey Graham Lindsey Olin GrahamMcConnell locks down key GOP votes in Supreme Court fight Will Republicans' rank hypocrisy hinder their rush to replace Ginsburg? Momentum growing among Republicans for Supreme Court vote before Election Day MORE (R-S.C.), John McCain John Sidney McCainMomentum growing among Republicans for Supreme Court vote before Election Day McConnell urges GOP senators to 'keep your powder dry' on Supreme Court vacancy McSally says current Senate should vote on Trump nominee MORE (R-Ariz.), Bill Cassidy William (Bill) Morgan CassidyCoushatta tribe begins long road to recovery after Hurricane Laura Senators offer disaster tax relief bill Bottom line MORE (R-La.), Susan Collins Susan Margaret CollinsMcConnell locks down key GOP votes in Supreme Court fight Most Americans think winner of election should pick next Supreme Court justice: poll Murkowski: Supreme Court nominee should not be taken up before election MORE (R-Maine), Joni Ernst Joni Kay ErnstPoll shows tight Senate race in Iowa Will Republicans' rank hypocrisy hinder their rush to replace Ginsburg? Momentum growing among Republicans for Supreme Court vote before Election Day MORE (R-Iowa), Lisa Murkowski Lisa Ann MurkowskiMcConnell locks down key GOP votes in Supreme Court fight Most Americans think winner of election should pick next Supreme Court justice: poll Murkowski: Supreme Court nominee should not be taken up before election MORE (R-Alaska), Charles Grassley Charles (Chuck) Ernest GrassleyGOP set to release controversial Biden report McConnell locks down key GOP votes in Supreme Court fight Senate Republicans face tough decision on replacing Ginsburg MORE (R-Iowa), Johnny Isakson Johnny IsaksonGeorgia GOP Senate candidates cite abortion in pushing Ginsburg replacement Loeffler: Trump 'has every right' to fill Ginsburg vacancy before election Bottom line MORE (R-Georgia), Richard Burr Richard Mauze BurrRep. Mark Walker says he's been contacted about Liberty University vacancy Overnight Defense: Trump rejects major cut to military health care | Senate report says Trump campaign's Russia contacts posed 'grave' threat Senate report describes closer ties between 2016 Trump campaign, Russia MORE (R-N.C.), and Bob Corker Robert (Bob) Phillips CorkerHas Congress captured Russia policy? Tennessee primary battle turns nasty for Republicans Cheney clashes with Trump MORE (R-Tenn.).

The Democratic co-sponsors include Sens. Jeanne Shaheen Cynthia (Jeanne) Jeanne ShaheenSenate Democrats introduce bill to sanction Russians over Taliban bounties Trump-backed candidate wins NH GOP Senate primary to take on Shaheen Democratic senator urges Trump to respond to Russian aggression MORE (D-N.H.), Joe Donnelly Joseph (Joe) Simon DonnellyNames to watch as Trump picks Ginsburg replacement on Supreme Court Momentum growing among Republicans for Supreme Court vote before Election Day Barrett seen as a front-runner for Trump Supreme Court pick MORE (D-Ind.), Amy Klobuchar Amy KlobucharBattle lines drawn on precedent in Supreme Court fight Sunday shows - Ruth Bader Ginsburg's death dominates Klobuchar: GOP can't use 'raw political power right in middle of an election' MORE (D-Minn.), Heidi Heitkamp Mary (Heidi) Kathryn HeitkampCentrists, progressives rally around Harris pick for VP 70 former senators propose bipartisan caucus for incumbents Susan Collins set to play pivotal role in impeachment drama MORE (D-N.D.), Al Franken Alan (Al) Stuart FrankenGOP Senate candidate says Trump, Republicans will surprise in Minnesota Peterson faces fight of his career in deep-red Minnesota district Getting tight — the psychology of cancel culture MORE (D-Minn.), Joe Manchin Joseph (Joe) ManchinNames to watch as Trump picks Ginsburg replacement on Supreme Court Momentum growing among Republicans for Supreme Court vote before Election Day Gardner on court vacancy: Country needs to mourn Ginsburg 'before the politics begin' MORE (D-W.Va.), Tom Carper Thomas (Tom) Richard CarperDemocrat asks for probe of EPA's use of politically appointed lawyers Overnight Energy: Study links coronavirus mortality to air pollution exposure | Low-income, minority households pay more for utilities: report OVERNIGHT ENERGY: Democrats push resolution to battle climate change, sluggish economy and racial injustice | Senators reach compromise on greenhouse gas amendment stalling energy bill | Trump courts Florida voters with offshore drilling moratorium MORE (D-Del.), Tammy Baldwin Tammy Suzanne BaldwinKeep teachers in the classroom Cher raised million for Biden campaign at LGBTQ-themed fundraiser Democrats seek balance in backing protests, condemning violence MORE (D-Wis.), Claire McCaskill Claire Conner McCaskillMomentum growing among Republicans for Supreme Court vote before Election Day Democratic-linked group runs ads in Kansas GOP Senate primary Trump mocked for low attendance at rally MORE (D-Mo.), and Maggie Hassan Margaret (Maggie) HassanCongress needs to prioritize government digital service delivery Senate Democrats demand answers on migrant child trafficking during pandemic Hillicon Valley: Feds warn hackers targeting critical infrastructure | Twitter exploring subscription service | Bill would give DHS cyber agency subpoena power MORE (D-N.H.).

Sen. Angus King Angus KingShakespeare Theatre Company goes virtual for 'Will on the Hill...or Won't They?' On The Trail: How Nancy Pelosi could improbably become president Angus King: Ending election security briefings 'looks like a pre-cover-up' MORE (I-Maine) is also a co-sponsor.

Updated at 2:15 p.m.