Senator Welch Urges Bipartisan Action to Extend ACA Premium Tax Credits

Senator Peter Welch, a member of the Senate Finance Committee, has urged Congressional leadership to act swiftly to extend the Affordable Care Act (ACA) Premium Tax Credits (APTCs) before they expire on December 31, 2025. The expiration of these credits is expected to cause a significant increase in health insurance premiums nationwide, with some families facing premium hikes of over 900%. Without an extension, an estimated 15 million Americans, including 4 million who currently afford ACA plans, could lose their health coverage. Welch emphasized bipartisan cooperation to address this urgent health care crisis and called on the Senate Finance Committee to schedule a markup for the APTC extension in early December. The current ACA open enrollment period has revealed shocking premium increases affecting over 24 million Americans, highlighting the fragility of the insurance market without continued subsidies. Welch is also actively involved in broader health care policy reforms aiming to reduce costs and improve access, including legislation focused on emergency response, Medicare pricing, prescription drug costs, rural hospital funding, and Medicaid pharmacy protections. These measures align with efforts to stabilize the insurance market and address systemic health care affordability challenges. The call for immediate bipartisan action reflects the potential for legislative solutions to mitigate market destabilization and protect coverage for millions of Americans under the ACA framework.