January 22, 2025

Merkley, Wyden Support Legislation to Lower Health Care Costs for Millions by Permanently Extending Affordable Care Act Premium Tax Credits

Washington, D.C. – Oregon’s U.S. Senators Jeff Merkley and Ron Wyden announced today they joined House and Senate Democrats in an effort to keep tax credits that lower health care premium costs by reintroducing the Health Care Affordability Act. The bicameral legislation makes permanent the Affordable Care Act’s (ACA) enhanced premium tax credits (PTCs) for Marketplace coverage as extended through the Inflation Reduction Act. According to the Congressional Budget Office (CBO), if the PTCs are allowed to expire at the end of this year, health care premiums would increase by 7.9 percent and 3.8 million Americans would lose their health insurance altogether.

“The Affordable Care Act is life-saving for people in Oregon and across the United States, ensuring hardworking families have access to quality, affordable health care,” said Merkley. “Thanks to the landmark American Rescue Plan and Inflation Reduction Act, Democrats significantly lowered costs and increased access to health insurance for millions of Americans by extending eligibility for tax credits that make premiums more affordable. We must act now to ensure these provisions are made permanent to keep Oregonians reliably insured and keep health care costs from skyrocketing.”

“Health care is a human right, and making sure that right isn’t restricted to the wealthy requires every effort to keep premiums affordable regardless of income level for Oregonians and all Americans,” said Wyden, Ranking Member of the Senate Finance Committee. “That’s exactly what these tax credits have accomplished for working-class and middle-class families, and why I’m all in to make these credits permanent. When something is working, you don’t just let it slip away – you fight to keep it in place and continue to help people afford health care.”

The Health Care Affordability Act would make permanent the ACA PTCs for Health Insurance Marketplace coverage as passed in the American Rescue Plan Act and extended through the Inflation Reduction Act. Those enhanced tax credits increase the value of the tax credits available to people with income between 100 and 400 percent of the federal poverty level (FPL) while expanding eligibility for premium tax credits to include individuals with income above 400 percent of FPL. According to the Kaiser Family Foundation, in 2024, more than 111,000 Oregonians enrolled in the marketplace benefitted from the advanced premium tax credits with an average tax credit of $525 per month.

In addition to Merkley and Wyden, the Senate bill is led by Senators Jeanne Shaheen (D-NH) and Tammy Baldwin (D-WI) and cosponsored by U.S. Senate Minority Leader Chuck Schumer (D-NY), U.S. Senators Richard Blumenthal (D-CT), Angus King (I-ME), Maggie Hassan (D-NH), Peter Welch (D-VT), Tim Kaine (D-VA), Chris Coons (D-DE), Elizabeth Warren (D-MA), Dick Durbin (D-IL), Patty Murray (D-WA), Raphael Warnock (D-GA), Kirsten Gillibrand (D-NY), Jack Reed (D-RI), Tammy Duckworth (D-IL), Chris Van Hollen (D-MD), Catherine Cortez Masto (D-NV), Brian Schatz (D-HI), Alex Padilla (D-CA), Tina Smith (D-MN), Amy Klobuchar (D-MN), Jacky Rosen (D-NV), Mark Kelly (D-AZ), Cory Booker (D-NJ), Sheldon Whitehouse (D-RI), Adam Schiff (D-CA), Mark Warner (D-VA), Ed Markey (D-MA), Ben Ray Lujan (D-NM), Mazie Hirono (D-HI), Michael Bennet (D-CO), John Hickenlooper (D-CO), Gary Peters (D-MI), John Fetterman (D-PA), Martin Heinrich (D-NM), Andy Kim (D-NJ) and Elissa Slotkin (D-MI). In the House, the legislation is led by Congresswoman Lauren Underwood (D-IL).

The bill has been endorsed by: Protect Our Care, Keep Americans Covered, Leukemia and Lymphoma Society, United States of Care, National Health Council, Unidos, Young Invincibles, Alliance of Community Health Plans, American Cancer Society Cancer Action Network, American Lung Association, Center for American Progress, American Heart Association, Cystic Fibrosis Foundation, Third Way, Susan G. Komen, Arthritis Foundation, Cancer Support Community, Child Neurology Foundation, Epilepsy Foundation of America, American Kidney Fund, CancerCare, Family Voices – National, Hemophilia Federation of America, Lupus Foundation of America, National Bleeding Disorders Foundation, National Kidney Foundation, Muscular Dystrophy Association, National Multiple Sclerosis Society, National Organization for Rare Disorders, National Patient Advocate Foundation, National Psoriasis Foundation, The AIDS Institute, Families USA, Asian & Pacific Islander American Health Forum, Federation of American Hospitals, Center for American Progress, National Partnership for Women and Families, Pulmonary Hypertension Association, GO2 for Lung Cancer, Community Catalyst, American Federation of Teachers and National Coalition for Cancer Survivorship.

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