WASHINGTON – Congress has run out of time to extend the Obamacare subsidies that will expire at the end of the year, meaning health insurance premiums are about to go up for millions of Americans.
That reality became clear after a last-minute effort failed among Republicans in the House of Representatives who were hoping to trigger a vote on the tax credits, said Speaker Mike Johnson on Dec. 16. Though roughly a dozen moderate GOP lawmakers worked on the issue last weekend as Congress readies to depart for the holidays, Johnson told reporters that no consensus was reached.
"Many of them did want to vote on this Obamacare, COVID-era subsidy the Democrats created," Johnson said in the Capitol. "We looked for a way to try to allow for that pressure release valve, and it just was not to be."
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The top congressional leader's acknowledgment virtually guaranteed the impending conclusion of the Affordable Care Act subsidies, affecting roughly 22 million Americans. Once they run out at the end of the year, the average enrollee who receives the tax credits on the Obamacare marketplace will see their premiums double, according to KFF, a nonpartisan health policy research group.
