Washington D.C. — As Congress continues to negotiate a health care package, new reporting indicates that Republicans have rejected Democrats’ proposal to extend the Inflation Reduction Act’s enhanced premium tax credits for one year. These tax credits, which lowered the cost of health care for millions of people purchasing coverage on their own, are set to expire at the end of 2025. If Congress fails to act, an estimated 5 million Americans would become uninsured and costs would skyrocket for millions more. In response, Protect Our Care Executive Director Brad Woodhouse issued the following statement:
“It’s shameful Republicans are rejecting a commonsense proposal to protect affordable health care for millions of Americans. The folks relying on these tax credits include small business owners, people living in rural areas, farmers, people with pre-existing conditions, and older adults. Instead of fighting to keep costs low for middle-class families, Republicans are working overtime to dole out more tax breaks to their wealthy friends on Wall Street. If these tax credits do expire, Republicans will own this premium hike for middle-class families and the coverage losses for millions that come with it.”