King Releases Statement on Senate Votes to Extend Healthcare Tax Credits for Americans

WASHINGTON, D.C. - Today, U.S. Senator Angus King (I-ME) released the following statement after two votes both failed to extend the Affordable Care Act (ACA) tax credits, which will now result in increased healthcare costs for all Americans:

"Americans of all regions and political views agree that health care costs are already too high. Yet, healthcare premiums will increase yet again in just 20 days.

"Today's votes represented a choice: a simple extension of the current health care insurance tax credits to stabilize costs or a complicated proposal that will not address the impending premium increases and threatens reproductive health.

"As I have made clear, my priority is helping Maine people manage their healthcare costs and lower their cost of living. That is why one of the first bills I cosponsored this year was the Health Care Affordability Act to permanently extend the enhanced Premium Tax Credits (PTCs) - tax subsidies that lower monthly premiums for people buying their own health insurance, which will expire at the end of this year.

"It is estimated that without an extension, nearly 20,000 Maine people could lose insurance, the uninsured rate would increase by 5%, and the average annual premium increase for Maine people relying on PTCs would be $3,100.

"We must not let that happen. I will continue to seek a bipartisan solution."

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