Washington, March 7 (RHC-Agencies) -- The U.S. Republican Party (GOP) on Monday unveiled a health care bill that it says will replace the  Affordable Care Act (ACA) –also known as Obamacare- taking a step further in trashing what former President Barack Obama hoped would be his biggest legacy.

The bill, named the American Healthcare Act, was introduced by the House Committees of Ways and Means and Energy and Commerce. It will "deliver relief from Obamacare's taxes and mandates and lay the groundwork for a 21st century health care system," the Republican Party  said on its website.

The proposed bill seeks to axe penalties levied on individuals and employers who don't purchase health plans, but instead encourages people to stay insured by allowing insurers to place a 30-percent surcharge on the premiums of those who are not continuously covered by health plans.

But the Republican Party has opted to keep two of the most popular features of the ACA, including letting young adults aged 26 or younger to stay on their parents' health care package and forbidding insurers to deny coverage to those with preexisting conditions.

U.S. President Donald Trump, one of whose major campaign promises was to "repeal and replace" Obamacare, has vowed to make abolishing the ACA one of the top priorities of his administration, a position that has won the support of the Republican-controlled Congress.