Vasquez Fights to Save Affordable Health Care for New Mexicans with Bipartisan Solution

WASHINGTON, D.C.- Today, U.S. Representative Gabe Vasquez (NM-02)cosponsored the Bipartisan Premium Tax Credit Extension Act, reaching across the aisle to find a bipartisan end to the government shutdown and furthering a federal solution to protect over 50,000 New Mexicans from devastating health insurance cost increases.

Under current law, the ACA enhanced premium tax credits (EPTC) are set to expire at the end of this year, doubling premiums for over 17,000 residents of New Mexico's second district who purchase insurance through the ACA marketplace. Without intervention, this expiration would drive up monthly health insurance costs for the average family by nearly $600 per month.

New Mexico's state legislature just passed an emergency relief packageto temporarily shield New Mexicans from an immediate health insurance rate hike, but this solution is not sustainable and will cause funds to be diverted from other important areas of state funding, such as public safety, education, and affordable housing.

With the Bipartisan Premium Tax Credit Extension Act, Rep. Vasquez is supporting a bipartisan effort to extend the ACA EPTCs for one year. This would keep critical federal funding in place, allow Congress to continue to negotiate a long-term federal solution, and empower New Mexico to retain state resources to invest in other local priorities - from purchasing and equipping law enforcement vehicles to investing in affordable housing solutions to reducing homelessness across the state.

"The Bipartisan Premium Tax Credit Extension Actshows that commonsense Republicans and Democrats are willing to come together and agree the federal government needs to keep investing in the health of its citizens," said Vasquez. "New Mexico should not have to foot the bill when Republicans in Congress decide to slash millions of Americans' access to health insurance in order to give tax breaks to billionaires."

Vasquez supported this bill after hearing concerns about rising health care costs directly from constituents, patients, and health care providers across southern New Mexico. In September, Vasquez hosted a roundtablewith patients who benefit from the EPTCs, as well as caregivers, health care providers, and health care officials who raised concerns about what the expiration of federal support would mean for access to preventative care, rural hospital closures, and rising mortality rates. The Congressman remains committed to protecting access to affordable health care and rural hospital services for New Mexico families.

Vasquez previously led a letter to Speaker Johnsonurging him to reverse his decision to cancel voting days in the House of Representatives ahead of the government shutdown, instead urging members to work together to find a bipartisan solution to keep the government open and prevent health care costs from skyrocketing. He is also a cosponsor of the Protecting Health Care and Lowering Costs Act, which would reverse these devastating health care cuts and permanently extend the ACA EPTCs.

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