The White House said Tuesday that President Obama would veto a House bill that would exempt people from penalties if they purchased health insurance through Obamacare co-ops, and then lost their plan because the co-op failed.

The bill, sponsored by Rep. Adrian Smith, R-Neb., would say the law’s individual mandate tax penalty would not apply to those who unexpectedly lost their health insurance through no fault of their own but because Consumer Oriented and Operated Plans, or Co-ops, created under the law, failed or are in the process of closing.