In a letter to the Senate Finance Committee, Congressional leadership, and members of the House, Welch calls for bipartisan cooperation to solve urgent health care crisis
WASHINGTON, D.C. – U.S. Senator Peter Welch (D-Vt.), a member of the Senate Finance Committee, called on Senate Finance Committee leadership, Congressional leadership, and members of the House of Representatives to act with urgency and extend the Affordable Care Act (ACA) Premium Tax Credits (APTCs) before the credits expire on December 31, 2025 and the cost of coverage skyrockets nationwide. In his letter to Chairman Mike Crapo (I-Idaho) and Ranking Member Ron Wyden (D-Ore.), Senator Welch urged immediate bipartisan action in both the chambers of Congress.
“Once we address the current premium crisis, there are numerous policy reforms we can pursue on a bipartisan basis to rein in out-of-control health care costs. I am eager to work with both of you on those reforms,” wrote Senator Welch. “But with the reality of January 1st looming, the only action this Congress can take to avoid inflicting unnecessary harm on people we all represent is to extend the Advanced Premium Tax Credits.”
Senator Welch concluded: “Failure to extend the tax credits now will destabilize the insurance marketplace and inflict harm on all of our constituents. Let us work together and solve this urgent crisis. I urge you, as leaders of the Senate Finance Committee, to schedule a markup of an extension of the APTCs during the first week of December.”
Open Enrollment for the ACA Marketplaces began on November 1, and the sticker shock is devastating families nationwide: Over 24 million Americans—including nearly 30,000 Vermonters—saw premiums more than double next year, on average. Without health care tax credits, a Vermont family of four making $130,000 a year that currently pays $1,195 a month for a baseline health care plan can expect to pay $3,035 a month for that same plan—a $22,080 annual increase. A Vermont family of four making about $64,000 a year will pay 920% more. Ultimately, Republicans’ actions will kick 15 million Americans off their health insurance, including about 4 million people who will no longer be able to afford an ACA health plan.
Read and download the full text of Senator Welch’s letter to Senate Finance Committee leadership.
This Congress, Senator Welch has led the introduction of several bills to make health care more accessible and affordable for Vermonters, including the Comprehensive Alternative Response to Emergencies (CARE) Act, Strengthening Medicare and Reducing Taxpayer (SMART) Prices Act, Fair Prescription Drug Prices for Americans Act, End Price Gouging for Medications Act, Creating Opportunities Now for Necessary and Effective Care Technologies (CONNECT) for Health Act, Protecting Pharmacies in Medicaid Act, Fair Funding for Rural Hospitals Act, and the Rural Hospital Support Act.
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