Obamacare Premium Benefits Targeted as GOP Pushes for Tax Cuts [View all]

Last edited Tue Jul 9, 2024, 03:57 AM - Edit history (1)

Obamacare Premium Benefits Targeted as GOP Pushes for Tax Cuts

Alex Ruoff
Reporter

Chris Cioffi
Senior Reporter

https://news.bgov.com/health-law-and-business/obamacare-premium-benefits-targeted-as-gop-pushes-for-tax-cuts

"SNIP..........

* Health insurance premium subsidies expire at the end of 2025

* Higher costs make hard choices for Republican tax-writers

Conservatives, fighting for tax cuts, are building a case for letting Obamacare’s premium tax credits expire next year, potentially leaving nearly 4 million people uninsured.

People in low-to-moderate income households can get a refundable tax credit to buy health insurance through Affordable Care Act marketplaces, a provision Democrats expanded in 2021. The following year, Democrats extended the expansion through the end of 2025. President Joe Biden has called for making the expanded tax credit permanent to avoid driving up insurance premium costs that could increase the number of people in the US going without health coverage.

The credits’ expiration aligns with lapses of many individual income tax cuts in the 2017 GOP-led tax law, tying one issue Republicans want to talk about with one they’d rather avoid.

............SNIP"