Bill > HR6246

This bill aims to extend health insurance premium tax credit provisions by modifying the Internal Revenue Code, specifically allowing tax credits for households with income above 400% of the poverty line. The bill introduces a temporary rule that removes the 400% income limit for premium tax credits until an "applicable date" determined by the Secretary of the Treasury. The applicable date will be set based on an estimation that the increased government outlays and reduced revenues from this change do not exceed the decrease in government outlays from new tariff collections imposed after January 19, 2025. The Secretary must make these estimates using methods similar to those of the Congressional Budget Office and the Joint Committee on Taxation. The bill also modifies existing provisions to increase premium assistance amounts and extends these changes to taxable years beginning after December 31, 2025. By leveraging tariff revenues to fund expanded healthcare subsidies, the bill seeks to make health insurance more affordable for middle-income Americans by temporarily eliminating the current income cap on premium tax credits.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/6246/all-info