ICYMI: Arizonans Could Pay More for Insurance If Congress Doesn't Act

PHOENIX — Many Arizonans insured through the Affordable Care Act (ACA) Marketplace exchange could see their monthly premiums skyrocket after next year if Congress doesn't extend cost-saving support that was enacted as part of the Inflation Reduction Act.

According to the New York Times:

"The subsidies, which reduce the price of health insurance for people who buy their coverage in the Obamacare marketplaces, were passed as a temporary measure in 2021, then extended as part of the Inflation Reduction Act in 2022. In that time, Obamacare enrollment has nearly doubled. If Congress doesn’t extend them, the subsidies will expire at the end of 2025, and the Trump campaign and key Republicans in Congress have said they do not support the extension."

Many provisions of the 2017 Republican Tax Law also expire next year, including ones that greatly favored those at the top while doing virtually nothing for working Arizonans. Congress has an opportunity to create a fair tax code where corporations and the ultra-wealthy pay their fair share  and use that new revenue to protect these cost-lowering health care tax credits, invest in child care, make Social Security solvent for the next generation, and more. 

The Republican Study Committee, which Congressmen David Schweikert and Juan Ciscomani sit on, proposed a budget earlier this year that would eliminate these cost savings for Arizonans who buy health insurance on the ACA Marketplace exchange while extending the tax cuts that favor the wealthy.

“Arizonans have made it clear that they want access to quality affordable health care – the ACA provided that and the Inflation Reduction Act expanded upon it,” said Les Braswell with Honest Arizona. “Congress not only needs to extend this cost-saving support for the Arizonans and millions of Americans who can better afford health care thanks to the Inflation Reduction Act, but they also need to make corporations and the ultra-wealthy pay their fair share just like the rest of us so that we can all thrive.”

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