Last week, the White House floated a healthcare legislative package for Congress to consider in December, primarily focused on a one- or two-year extension of expiring ACA tax credits. However, after significant pushback from Congressional Republicans, the Trump administration is no longer expected to advance this plan, but instead will defer to Congressional leaders to lead negotiations.
Lawmakers face a December 31 deadline to extend the enhanced ACA premium tax credits, which were put in place during the pandemic and extended by the Biden administration. Democrats made these tax credits the focus of their demands during the 43-day government shutdown, and conceded with a pledge for a vote this month to extend the credits. The vote would require 60 votes for passage, and it is unclear if enough Republicans would join Democrats to reach this threshold, nor has House Speaker Mike Johnson (R-LA) signaled that he would bring up the legislation for the vote if it passed the Senate.
The House is scheduled to be in session for 13 more days, and the Senate will be in session for 12 more days before the end of the year. Argentum is focusing its advocacy efforts on potential healthcare tax credits that could be incorporated into a package if one gains momentum. Specifically, we are seeking to advance two bills as part of the year-end healthcare package:
- H.R. 138 & S. 1565, The Lowering Costs for Caregivers Act– Bipartisan legislation to allow health savings accounts and flexible spending accounts to be used by adult children on medical expenses for their parents. Senate Health, Education, Labor, and Pensions Chairman Bill Cassidy (R-LA) is is the primary Republican sponsor and has long-championed expanding the use of HSAs and FSAs.
- H.R. 2036 & S. 925, The Credit for Caring Act – Bipartisan legislation to establish a tax credit of up to $5,000 to help offset long-term care expenses. The amount of the credit would be 30 percent of the qualified expenses paid or incurred by the family caregiver above $2,000; the credit gradually decreases for incomes above $150,000 for joint-filers and zeroes-out at incomes of $200,000.
If a legislative package begins advancing, we will be calling on all Argentum Advocates to join us in our grassroots programs to encourage lawmakers to incorporate our priorities into the bill.