President Biden called on Congress to extend Affordable Care Act (ACA) tax credits, emphasizing their role in reducing healthcare disparities. A recent Congressional Budget Office (CBO) report highlighted that letting the credits expire in 2025 would increase premiums and leave 3.8 million Americans uninsured.
“Healthcare should be a right, not a privilege,” Biden stated, urging Congress to act. The subsidies, first enacted in 2010, have lowered premiums for millions, but their expiration could cause a significant rise in costs and uninsured rates.
Republicans, poised to hold a Congressional majority, are unlikely to renew the measure, potentially leaving millions without coverage. The CBO warned that expiration would raise gross benchmark premiums by 7.9% annually for eight years starting in 2026.
Discover more from News Facts Network
Subscribe to get the latest posts sent to your email.
