Senate Democrats Push for ACA Tax Credit Extension Amid House Proposals
The Senate is poised to vote on a Democratic proposal aimed at extending the enhanced Affordable Care Act (ACA) tax credits, which are set to expire on December 31. These credits, initially introduced under the American Rescue Plan and the Inflation Reduction Act of 2021, have allowed more Americans to afford health insurance through the ACA marketplace. Senate Minority Leader Chuck Schumer has announced that Democrats will push for a vote on a bill that seeks a three-year extension of these credits, capping premiums at 8.5% of income. However, the bill faces significant hurdles, requiring 60 votes to advance in a Senate where Republicans hold a majority. Concurrently, House Republicans have introduced alternative proposals, including the Moreno-Collins CARE Act and the Cassidy-Crapo framework, which offer different approaches to managing the expiring credits.