Senate Minority Leader Chuck Schumer, D-N.Y., said Thursday that Democrats will force a vote next week to extend enhanced Affordable Care Act tax credits that are scheduled to expire, warning that premiums could jump for millions of Americans if Congress does nothing.
Schumer said the credits have shielded families from steep monthly bills and that letting them expire would push costs higher overnight for many enrollees. The tax credits help lower monthly premiums for people who buy coverage on the ACA marketplace.
In a floor speech, Schumer called his proposal a "clean" three-year extension of the subsidies, which cap what many enrollees pay for the average marketplace plan at 8.5% of their income. The additional assistance is set to lapse at the end of the year.
Schumer said the vote would put Republicans on the record as the Jan. 1 deadline approaches.
"Republicans have one week to decide where they stand: Vote for this bill and bring health care costs down, or block this bill and send premiums skyrocketing," the senator said.
He added that "every single Democrat will support" the measure and argued it is "the only path" to preventing dramatic increases in insurance costs next year.
"People back home will be watching what Republicans do, and the American people are running out of time before Jan. 1," Schumer said. "Make no mistake, our bill is the last chance Republicans will get before Jan. 1 to prevent premiums from skyrocketing."
Republicans have not committed to backing the extension. Senate Majority Leader John Thune, R-S.D., said earlier this week that the Senate will hold a vote next week on a Democrat proposal but cautioned that agreement is uncertain.
"I don’t think, at this point, we have a clear path forward," Thune said.
Theodore Bunker ✉
Theodore Bunker, a Newsmax writer, has more than a decade covering news, media, and politics.
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