Health Insurance Costs Are Set to Explode After Republicans Reject Extended Tax Credits

Tens of millions of U.S. residents are set to see the cost of their health insurance plans skyrocket, after the Senate rejected a bill that would have extended tax credits under the Affordable Care Act. On Thursday, four Republican senators sided with Democrats and independents who voted in favor of a three-year extension of the healthcare subsidies, but the legislation failed on a vote of 51 to 48 after falling short of the 60 needed to break a Republican filibuster. Without a deal by December 31, some 22 million people will likely see their premiums double, on average. This is Georgia Democratic Senator Raphael Warnock.

Sen. Raphael Warnock: “Republicans today have taken a system that’s already struggling and broken it down even more. And the consequences for ordinary people, many of them in their own red districts, will be that they will have to delay response to their healthcare. They will have to find a way to pay more higher premiums. And for many people, they will literally pay with their lives.”