WASHINGTON, D.C. — U.S. Rep. Tom Kean Jr., R-N.J., on Thursday joined Reps. Jen Kiggans, R-Va., Tom Suozzi, D-N.Y., and a dozen colleagues to introduce the bipartisan Premium Tax Credit Extension Act, aimed at preventing sharp health insurance premium increases for families and small business owners on the Affordable Care Act (ACA) marketplace.
The ACA created premium tax credits in 2014 for lower- and middle-income consumers. Congress temporarily expanded those credits in 2021 through 2025, lowering premiums for households earning 100%–400% of the federal poverty level and, for the first time, extending eligibility above 400% if premiums exceed 8.5% of income. Roughly 86% of marketplace enrollees receive subsidies. Supporters of the bill say that if Congress does not act, nearly all marketplace enrollees could face steep premium hikes, with many families at risk of losing affordable coverage.
“Millions of Americans rely on premium tax credits to keep their health coverage,” said Congressman Kean. “Since 2021, these credits have helped rideshare drivers, working families, and many others afford private insurance on the individual market. If they expire at the end of the year, families in New Jersey and across the country will face higher costs and risk losing critical coverage. This bipartisan effort will extend the credits for another year as Congress continues working together on long-term solutions to lower health care premiums.”
“As a nurse practitioner, military spouse, and Mom, I understand firsthand how critical affordable health care is for working families,” said Congresswoman Kiggans. “In Congress, I’ve made it my mission to ensure Virginians—especially our seniors, small business owners, and middle-class families—aren’t blindsided by skyrocketing costs they can’t afford. While the enhanced premium tax credit created during the pandemic was meant to be temporary, we should not let it expire without a plan in place. My legislation will protect hardworking Virginians from facing health insurance bills they can’t afford, thus losing much-needed access to care. We can’t pull the rug out from under hardworking families—we must give Americans more time to plan. This is the last thing Virginians need, and it’s unacceptable.”
“New Yorkers, including 17,000 of my constituents, rely on the ACA’s enhanced premium tax credits to afford their health insurance,” said Congressman Suozzi. “At a time when the cost of living is skyrocketing and Americans are concerned about being able to afford basic necessities, we cannot allow them to face thousands of dollars of health insurance premium increases if these tax credits expire. This is too important to wait until the last second to think about solutions. I will always work across the aisle to find a middle ground that solves the problems Americans are worried about.”
Cosponsors include Reps. Brian Fitzpatrick (PA-01), Jared Golden (ME-02), Jeff Hurd (CO-03), Rob Bresnahan (PA-08), Young Kim (CA-40), David Valadao (CA-22), Carlos Gimenez (FL-28), Juan Ciscomani (AZ-06), Mike Lawler (NY-17), Don Davis (NC-01), and Marie Gluesenkamp Perez (WA-03).
