“To amend the Internal Revenue Code of 1986 to extend certain provisions of the health insurance premium tax credit using tariff revenue.”
No CRS summary available for this bill.
This section extends two temporary enhancements to the premium tax credit—(1) the rule allowing the credit for households with income exceeding 400% of the federal poverty line, and (2) increased premium assistance amounts (i.e., larger subsidies based on a more generous percentage of income spent on premiums)—to taxable years beginning before the "applicable date" (from before January 1, 2026). (As background, the premium tax credit subsidizes qualified health plans purchased through Affordable Care Act Marketplaces for eligible individuals and families with incomes between 100% and 400% of the federal poverty line, with these enhancements originally enacted by the American Rescue Plan Act and extended through 2025 by the Inflation Reduction Act.) The applicable date is the latest date the Secretary of the Treasury estimates will result in federal costs from these provisions (increased outlays and reduced revenues) not exceeding savings from tariffs imposed or increased after January 19, 2025, using methods comparable to Congressional Budget Office and Joint Committee on Taxation estimates.