Bipartisan House Plans Extend ACA Tax Credits Before Expiry

Republicans in the House and Senate, including Rep. Jen Kiggans, have introduced bipartisan legislation to extend the enhanced Affordable Care Act (ACA) premium tax credits through 2026, aiming to prevent a significant rise in insurance premiums set to occur if the subsidies expire at the end of this year. The bill has garnered support from vulnerable Republican incumbents and Democrats, reflecting bipartisan concern about the potential financial impact on millions of Americans, with premiums potentially increasing by 18 percent on average. Senate Majority Leader John Thune acknowledged the issue's significance and indicated that Democrats should propose a workable solution, while some Republicans remain divided on the extension. Democrats, including Sen. Kirsten Gillibrand and Senate Minority Leader Chuck Schumer, are pressing for the subsidies' continuation to avoid worsening the health care crisis. The extension is expected to play a critical role in upcoming government funding legislation and could influence the 2026 midterm elections. Without an extension, nearly 20 million Americans, including 1.6 million New Yorkers, would face substantial premium increases, threatening affordability for low- and middle-income families.