Bill > S2824

This bill amends the Internal Revenue Code of 1986 to extend temporary enhanced premium credits for health insurance. Specifically, the bill extends two key provisions related to premium tax credits under the Affordable Care Act: first, it changes the expiration date from January 1, 2026 to January 1, 2028 for the existing enhanced premium credit structure, and second, it does the same for provisions related to taxpayers whose household income exceeds 400 percent of the poverty line. These changes mean that more generous health insurance premium subsidies will continue to be available for two additional years, helping to keep health insurance more affordable for many Americans. The amendments will take effect for taxable years beginning after December 31, 2025, which means taxpayers will see these extended credits starting with their 2026 tax returns. This extension aims to maintain the current level of financial assistance for health insurance purchases through the Affordable Care Act marketplace.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/2824/all-info