Urges Congress to renew expiring enhanced premium tax credits to keep health insurance affordable for millions of Americans.

The resolution urges Congress to renew the enhanced premium tax credits set to expire at the end of 2025. These credits, expanded under the American Rescue Plan Act of 2021 and extended through 2025 by the 2022 Inflation Reduction Act, have made health insurance more affordable for over 19 million Americans, including over half a million New Jerseyans. Without renewal, the average cost of health insurance for an individual in New Jersey who previously received an enhanced premium tax credit would increase by $1,260 per year, with older New Jerseyans facing even higher costs.

Urges Congress to renew expiring enhanced premium tax credits to keep health insurance affordable for millions of Americans.

The resolution urges Congress to renew the enhanced premium tax credits set to expire at the end of 2025. These credits, expanded under the American Rescue Plan Act of 2021 and extended through 2025 by the 2022 Inflation Reduction Act, have made health insurance more affordable for over 19 million Americans, including over half a million New Jerseyans. Without renewal, the average cost of health insurance for an individual in New Jersey who previously received an enhanced premium tax credit would increase by $1,260 per year, with older New Jerseyans facing even higher costs.