Representative Juan Ciscomani (R-AZ) is introducing a bipartisan bill protecting small businesses, seniors, and families from healthcare premium spikes.
The Bipartisan Premium Tax Credit Extension Act works by extending a health insurance premium tax credit introduced in the Affordable Care Act (ACA) in 2014. The credit had been expanded twice. It was first expanded during the COVID-19 pandemic under the American Rescue Plan Act (ARPA) and then under the Inflation Reduction Act (IRA).
This credit is set to expire at the end of the year. Thus, the Bipartisan Premium Tax Credit Extension Act renews it, but the length is not specified.
"I'm proud to be an original cosponsor of this legislation that extend these credits for a limited time in order to give lawmakers the opportunity to construct responsible reforms that don't leave Arizonans' in the lurch with thousands of dollars more a year in health insurance premium increases," Rep. Ciscomani said in a statement. "We as Congress must come together to find ways to incentivize competition in the health insurance market that will drive innovation and lower costs."
The Arizona Republican added that "the factors relating to increasing premiums is multifaceted because health care costs have risen exponentially nationwide and have been rising for decades, directly a result of chronic disease in America that makes up about 90% of the nation's health care costs."
Rep. Ciscomani further praised the Trump Administration's "new focus on chronic disease and its devastation on our families."
However, he noted, "At this time, no legislation has come to the floor to extend the duration of the Enhanced Premium Tax Credits, and I have taken up the charge to change that by joining my bipartisan colleagues to help lead this legislation."
Representative Jen Kiggans (R-VA), the bill's primary cosponsor, said, "as a nurse practitioner, military spouse, and Mom, I understand firsthand how critical affordable health care is for working families."
"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," Rep. Kiggans expressed, adding that "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," Kiggans concluded.
