Underwood Introduces New Legislation to Prevent Health Care Cost Increase, Extend Tax Credits for Three Years

WASHINGTON — Today, Rep. Lauren Underwood introduced legislation to extend the popular tax credits from her legislation, the Health Care Affordability Act, to December 31, 2028.

The tax credits are currently set to expire on December 31, 2025. Republicans have failed to make them permanent, and tens of millions of working families are now facing skyrocketing health care costs for next year. Open enrollment is currently underway, and families should visit HealthCare.gov through December 15th to review their options.

“Republicans cannot continue to ignore the health care crisis that they’ve created. These popular tax credits will expire in just 42 days, and the cost increases that millions of Americans have been getting notices of will become reality,” said Rep. Underwood. “Health care is a human right, and House Democrats will not give up this fight. A three-year extension of these tax credits will give families peace of mind and certainty that their coverage will remain affordable and within reach. We are out of time, and Congress must pass this legislation immediately.”

The cost savings from the Health Care Affordability Act have led to a record-breaking and historic expansion of health care coverage.

More than 24 million people signed up for health care through the Affordable Care Act this year, including 3.2 million new enrollees. Four in five Americans have found health coverage for $10 or less per month and families of four with Marketplace plans are saving an average of $2,400 on their annual health care premiums.

But Republicans have refused to extend these savings, and the Congressional Budget Office estimates that 4.2 million Americans will lose their coverage as a direct result of the associated cost increases.

Full text of the legislation can be found here.