Wyden, Shaheen Unveils Report on Millions of Americans Losing Coverage and Skyrocketing Costs if Republicans End Premium Tax Credits

Wyden, Shaheen Unveils Report on Millions of Americans Losing Coverage and Skyrocketing Costs if Republicans End Premium Tax Credits

Loss of enhanced premium tax credits will lead to the largest premium increases in almost a decade - disproportionately harming Americans who are older, low- and middle-income, self-employed, and living in rural areas

Washington, D.C. - U.S. Senate Finance Committee Ranking Member Ron Wyden, D-Ore., joined Senator Jeanne Shaheen, D-N.H., and his colleagues in publishing a report they commissioned detailing the disastrous impacts of Republican cuts to health care, including allowing the cost of health care coverage to skyrocket and become more unaffordable for millions of working Americans by letting premium tax credits expire this year.

"Thanks to the Affordable Care Act, tens of millions of working Americans can buy their own health coverage without breaking the bank. Republicans letting the ACA tax credits expire will only increase health care costs and worsen coverage for struggling families," said Wyden. "We stand ready to work with anyone who wants to extend these benefits, making sure that Americans can access quality, affordable health care."

"The Affordable Care Act enhanced premium tax credits have been a lifeline for tens of millions of Americans. That's why my colleagues and I requested a report detailing just how devastating it would be if Congressional Republicans allow these tax credits to expire at the end of the year," said Shaheen. "The report didn't mince words: the loss of these tax credits will lead to the largest premium increases in almost a decade. Pulling the rug out from under working families-especially at a time when so many are struggling to make ends meet-would be catastrophic. I'm going to continue pushing hard on my Republican colleagues to actually come to the table and get this done."

Republicans allowing the Affordable Care Act premium tax credits to expire would be one of the top factors driving 2026 rate increases, making health insurance less affordable and a loss of coverage for already underserved Americans. In addition, Donald Trump's tariff policies, health care cuts from the reconciliation bill, and rising health care costs would contribute to higher costs and coverage loss.

In addition to Wyden, the report was led by Shaheen and signed by Senators Charles Schumer, D-N.Y., Tammy Baldwin, D-Wis., and Mark Warner, D-Va.

The full report, crafted by Georgetown Center on Health Insurance Reforms, is available here.

In a letter to the Georgetown Center on Health Insurance Reforms last month, Wyden and his colleagues asked for answers to a series of questions about how Americans should prepare for the changes indicated by health insurer rate filings in the wake of Republican actions to make unprecedented cuts to health care coverage.

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