Statements on Introduced Bills and Joint Resolutions

Floor Speech

2556

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE.

This Act may be cited as the ``Protecting Health Care and Lowering Costs Act''. SEC. 2. REPEAL OF HEALTH SUBTITLE CHANGES.

Subtitle B of title VII of the Act titled ``An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14'' (Public Law 119-21) is repealed and any law or regulation referred to in such subtitle shall be applied as if such subtitle and the amendments made by such subtitle had not been enacted. SEC. 3. PERMANENT EXTENSION OF ENHANCED TAX CREDIT.

(a) In General.--Subparagraph (A) of section 36B(c)(1) of the Internal Revenue Code of 1986 is amended by striking ``but does not exceed 400 percent''.

(b) Applicable Percentages.--

(1) In general.--Subparagraph (A) of section 36B(b)(3) of the Internal Revenue Code of 1986 is amended to read as follows:

``(A) Applicable percentage.--The applicable percentage for any taxable year shall be the percentage such that the applicable percentage for any taxpayer whose household income is within an income tier specified in the following table shall increase, on a sliding scale in a linear manner, from the initial premium percentage to the final premium percentage specified in such table for such income tier: ------------------------------------------------------------------------ The initial ``In the case of household income premium The final (expressed as a percent of poverty line) percentage premium within the following income tier; is-- percentage is-- ------------------------------------------------------------------------ Up to 150 percent......................... 0 0 150 percent up to 200 percent............. 0 2.0 200 percent up to 250 percent............. 2.0 4.0 250 percent up to 300 percent............. 4.0 6.0 300 percent up to 400 percent............. 6.0 8.5 400 percent and higher.................... 8.5 8.5.''. ------------------------------------------------------------------------

(2) Conforming amendments relating to affordability of coverage.--

(A) Paragraph (1) of section 36B(c) of such Code is amended by striking subparagraph (E).

(B) Subparagraph (C) of section 36B(c)(2) of such Code is amended by striking clause (iv).

(C) Paragraph (4) of section 36B(c) of such Code is amended by striking subparagraph (F).

(c) Effective Date.--The amendments made by this section shall apply to taxable years beginning after December 31, 2025.

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