Restores premium tax credit allowance for lawfully present individuals with incomes up to 100% of the poverty line.

The Restoring Essential Plan Coverage Act amends the Internal Revenue Code to reinstate the premium tax credit for lawfully present individuals with household incomes not exceeding 100% of the poverty line. This change applies to plan years beginning on or after January 1, 2027. Additionally, it repeals a previous law that restricted these credits and allows states to set their own maximum household income for basic health program eligibility between 200% and 250% of the poverty line.

Restores premium tax credit allowance for lawfully present individuals with incomes up to 100% of the poverty line.

The Restoring Essential Plan Coverage Act amends the Internal Revenue Code to reinstate the premium tax credit for lawfully present individuals with household incomes not exceeding 100% of the poverty line. This change applies to plan years beginning on or after January 1, 2027. Additionally, it repeals a previous law that restricted these credits and allows states to set their own maximum household income for basic health program eligibility between 200% and 250% of the poverty line.