Republican members of the House Ways and Means Committee have asked the Congressional Budget Office and the Joint Committee on Taxation how making the Affordable Care Act’s premium tax credit permanent would affect the deficit and health care costs in general. The lawmakers are requesting the “budgetary effects on outlays, revenues and the deficit.” The premium tax credit assists individuals who don’t have access to subsidized insurance through their employers and instead purchase coverage from private health insurers. The lawmakers claim the credit largely benefits those who aren’t truly in need of assistance. Making the credit permanent is part of President Biden’s 2025 budget proposal.
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