On Senate Floor, Shaheen Calls on Republicans to Join Democrats in Voting to Extend ACA Enhanced Premium Tax Credits
(Washington, DC) – Ahead of the vote to extend the enhanced premium tax credits, U.S. Senator Jeanne Shaheen (D-NH), author of bicameral legislation to permanently extend the Affordable Care Act (ACA) enhanced premium tax credits, took to the Senate floor to outline the consequences should Republicans allow the tax credits to expire in a matter of weeks and urged her Republican colleagues to help Democrats prevent premiums from skyrocketing. Click HERE to watch the Senator’s full remarks.
Key quotes from Senator Shaheen:
- “In a few moments, we're going to vote on whether millions of Americans can keep the ACA enhanced premium tax credits or whether they will face a crushing financial blow.”
- “These credits have helped millions of families, including tens of thousands of people in New Hampshire, keep their coverage and balance their family budgets. For many, they are the only thing that's standing between stability and a crisis.”
- “Now, yesterday, at a forum that I co-hosted with Senator Warner, we heard directly from people who depend on this coverage. Their stories were personal and they were urgent. [...] These are real families who have real stakes in this debate that we're having. This is not a game.”
- “I know there are members in both parties who want to find a responsible path forward. I welcome the discussion on where we can find common ground, and I'm ready to come to the table, as I said, with any of my colleagues to work on long term reforms. But first, we must keep millions of Americans from losing coverage in the coming months.”
Remarks as delivered:
Before I begin my official remarks to address the vote that we're going to be having shortly, I just want to respond to the Majority Leader's remarks because I think there was some misinformation there.
The fact is that 92% of people who get those enhanced premium tax credits are making $200,000 or less, and the average income for a person who receives those premium tax credits is $32,000 a year. That's not somebody in a higher income bracket.
And in fact, about 50% of the people who receive premium tax credits are small business owners or their employees who have no other option for health care because they can't afford an employer sponsored health insurance.
So I think much of what the Majority Leader said about costs and about addressing fraud and about lowering the cost of health care is something that we all ought to support. And I'm ready to come to the table, and I think we would be better served if, after we get through these votes, we sit down and come to a compromise to address the real costs that people are facing in terms of health care. And I'm ready to do that.
But in a few moments, we're going to vote on whether millions of Americans can keep the ACA enhanced premium tax credits or whether they will face a crushing financial blow.
These credits have helped millions of families, including tens of thousands of people in New Hampshire, keep their coverage and balance their family budgets.
For many, they are the only thing that's standing between stability and a crisis.
And I've worked on these tax credits since 2019, when I first introduced the bill. I have warned for more than a year about what would happen to rates if we fail to address this issue in Congress.
Well, now that open enrollment has begun, we are seeing the consequences of that failure to act in real time.
States and insurers are reporting that significantly fewer people are re-enrolling in health insurance plans, because families simply cannot afford the rising premiums. And the Republican proposal that Senators Cassidy and Crapo are introducing doesn't really address that issue.
Even those who are re-enrolling are often being pushed into less comprehensive plans that leave them exposed to substantial out-of-pocket costs.
Now, yesterday, at a forum that I co-hosted with Senator Warner, we heard directly from people who depend on this coverage. Their stories were personal and they were urgent.
One small business owner, who's also a health care provider, told us that affordable ACA coverage allows her to keep serving new mothers in her community while still caring for her own family. But she also pointed out that if we don't address these premium tax credits, that the cost of her health insurance was going to quadruple.
Another woman from Concord, New Hampshire, described the moment her son, who lives with a serious mental illness, had his coverage approved. She said, “she wept with relief”. With that coverage, he's been able to work to live independently and to get the treatment that he needs.
These are real families who have real stakes in this debate that we're having.
This is not a game. People are already feeling the impact of inaction.
Democrats have put forward a straightforward, immediate solution to prevent the premiums from jumping and to keep people insured.
Some of my Republican colleagues have offered ideas that they believe could help. And I think that engagement has been constructive.
But the time is short. We need to act now. We need to extend the tax credits.
I know there are members in both parties who want to find a responsible path forward.
I welcome the discussion on where we can find common ground, and I'm ready to come to the table, as I said, with any of my colleagues to work on long-term reforms.
But first, we must keep millions of Americans from losing coverage in the coming months.
Extending these credits is the easiest and most direct way to protect families.
Thank you, Mr. President. I yield the floor.
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