WASHINGTON, D.C. — U.S. Senator Peter Welch (D-Vt.), a member of the Senate Finance Committee, today joined Senate Democratic Leader Chuck Schumer (D-N.Y.) and Senators Ben Ray Luján (D-N.M.) and Lisa Blunt Rochester (D-Del.) to unveil Senate Democrats’ plan to protect health care tax credits for millions of Americans.  

The Affordable Care Act’s premium tax credits, which help over 24 million Americans—including nearly 30,000 Vermonters—afford health care, are set to expire on December 31, 2025. So far, Republicans have refused to work with Democrats to avoid this coverage cliff, which would drive up costs for millions. Senate Democrats have offered a three-year extension of the tax credits. 

“We’ve got a calendar that is relentlessly ticking away, and unless we extend these tax credits—so that people can continue to have the same health care in 2026 that they had in 2025—24 million Americans are in jeopardy,” said Senator Welch. “We felt it was our responsibility to put a concrete plan on the table that would make certain that Americans across the country did not lose their health care.” 

Watch Senator Welch’s full remarks below: 

Open Enrollment for the ACA Marketplaces began on November 1, and the sticker shock is devastating families nationwide. 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. 

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