AMIDST REPUBLICAN INACTION, REED RALLIES SUPPORT FOR VOTE TO EXTEND KEY ACA TAX CREDITS FOR 3 YEARS

The following information was released by Rhode Island Senator Jack Reed:

The U.S. Senate is set to vote this coming week on extending current Affordable Care Act (ACA) tax credits for over 21 million Americans -- including about 40,000 Rhode Islanders -- through a clean three-year extension before they expire at the end of the year.

U.S. Senator Jack Reed (D-RI) supports the bill and is urging his colleagues on both sides of the aisle to work together to renew the tax credits, which have helped millions of Americans afford to buy quality health insurance that meets their needs. If Republicans force the tax credits to expire, Americans across the country, regardless of where they get their health insurance, will face higher health costs and spiking premiums.

"It's imperative that Congress work to bring health care costs down, but President Trump's policies are forcing people to pay more to see a doctor or fill a prescription," said Senator Reed. "Democrats are unified around lowering health care costs for working Americans and have put forth a plan to prevent the doubling of health insurance premiums for millions of Americans. If Republicans block this bill it will send premium costs soaring and could trigger a tidal wave of hospital shutdowns and nursing home closures. Republicans took nearly one trillion from Medicaid in their billionaire-first mega bill and now average working families are the ones who could soon pay the price."

Regardless of whether Americans have employer-sponsored insurance or purchase it through the ACA, people across all income levels could face health care changes in 2026 if Republicans for federal insurance subsidies to expire and Trump's sweeping Medicaid cuts begin to take effect.

The enhanced ACA tax credits help Americans who earn up to 400 percent of the federal poverty level pay for insurance. Without those subsidies, experts at HealthSource RI say many Rhode Islanders could see their average monthly health costs double, depending on their circumstances and level of coverage. HealthSource RI enrollees are projected to pay about $111 more per person per month unless Republicans in Congress join with Democrats to extend enhanced federal tax credits that are expiring at the end of the year.

The vote to extend the ACA tax credits was procured last month as part of negotiations to end the federal government shutdown.

Democrats would need the support of at least 13 Republican Senators in order to overcome a filibuster, and even if the full Senate passes the bill it is unclear whether House Speaker Mike Johnson (R-LA) would allow a vote in the U.S. House of Representatives before the end of the year.

"Democrats are the only ones with a concrete plan. Not still distant 'concepts of a plan,' but an actual plan. Republicans have disparaged Obamacare since it first became law fifteen years ago. And for the last fifteen years, the law has grown more popular as people see how it works, even as Republicans try to sabotage it," said Reed. "I am for comprehensive coverage, smart reforms, anything that actually improves the law and enhances people's lives and ensures they can afford the care they need. But I do not support this partisan blockade that is based on spite and will cost some families access to health care altogether. Republicans need to get their act together and get to work."