Heinrich Cosponsors Legislation to Make Affordable Care Act Premium Tax Credits Permanent, Lower Costs for Working Families

WASHINGTON — U.S. Senator Martin Heinrich (D-N.M.) cosponsored the Health Care Affordability Act, legislation to make permanent the Affordable Care Act’s (ACA) enhanced premium tax credits for Health Insurance Marketplace coverage as extended through the Inflation Reduction Act. The enhanced premium tax credits, which have made health care more affordable and accessible for thousands of New Mexicans, are currently set to expire at the end of 2025. If these credits expire, working families will see a sudden increase in their health insurance costs.

“I’m focused on ensuring that every New Mexican has access to affordable health care when they need it,” said Senator Heinrich.“I’m proud to cosponsor the Health Care Affordability Act to extend ACA’s highly effective tax credits that keep health care within reach. We fought hard to cut health care costs through the ACA, and now is not the time to let up. We cannot let these credits expire.”

The legislation is led by U.S. Senators Jeanne Shaheen (D-N.H.) and Tammy Baldwin (D-Wis.). Alongside Heinrich, the bill is cosponsored by U.S. Senators Chuck Schumer (D-N.Y.), Ron Wyden (D-Ore.), Jack Reed (D-R.I.), Jeff Merkley (D-Ore.), Sherrod Brown (D-Ohio), Richard Blumenthal (D-Conn.), John Fetterman (D-Pa.), Jacky Rosen (D-Nev.), Tim Kaine (D-Va.), Amy Klobuchar (D-Minn.), Kirsten Gillibrand (D-N.Y.), Tina Smith (D-Minn.), Sheldon Whitehouse (D-R.I.), John Hickenlooper (D-Colo.), Mazie Hirono (D-Hawaii), Ben Ray Luján (D-N.M.), Peter Welch (D-Vt.), Michael Bennet (D-Colo.), Laphonza Butler (D-Calif.), John Tester (D-Mont.), Chris Van Hollen (D-Md.), Mark Warner (D-Va.), Elizabeth Warren (D-Mass.), Chris Coons (D-Del.), Gary Peters (D-Mich.), Richard Durbin (D-Ill.), Tammy Duckworth (D-Ill.), Brian Schatz (D-Hawaii), Tom Carper (D-Del.), Bob Casey (D-Pa.), Cory Booker (D-N.J.), Angus King (I-Maine), Maggie Hassan (D-N.H.), Catherine Cortez Masto (D-Nev.), Ed Markey (D-Mass.), Mark Kelly (D-Ariz.), George Helmy (D-N.J.), Ben Cardin (D-Md.), Debbie Stabenow (D-Mich.), Patty Murray (D-Wash.), Raphael Warnock (D-Ga.), and Chris Murphy (D-Conn.).

The Health Care Affordability Act has been endorsed by Keep Americans Covered, Protect Our Care, Leukemia & Lymphoma Society, Center for American Progress, UnidosUS, United States of Care, National Partnership for Women and Families, Young Invincibles, Families USA, American Heart Association, National Bleeding Disorders Foundation, National Health Council, Epilepsy Foundation, Hemophilia Federation of America, American Kidney Fund, The AIDS Institute, American Lung Association, American Cancer Society Cancer Action Network, Susan G. Komen, Cystic Fibrosis Foundation, Third Way, Community Catalyst, Alliance of Community Health Plans, National Organization for Rare Disorders, Asthma and Allergy Foundation of America, WomenHeart, CancerCare, Crohn’s & Colitis Foundation, National Alliance on Mental Illness (NAMI), Federation of American Hospitals, and the National Association for the Advancement of Colored People (NAACP).

The text of the bill is here.

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