Kiggans, Suozzi Lead Effort to Prevent Soaring Health Care Premiums for Thousands of Virginians

Washington, D.C. — Today, Reps. Jen Kiggans (VA-02) and Tom Suozzi (NY-03) introduced the Bipartisan Premium Tax Credit Extension Act, a bill to protect Virginia families, seniors, and small business owners from massive health care premium increases. 

Rep. Kiggans said, “As a nurse practitioner, military spouse, and Mom, I understand firsthand how critical affordable health care is for working families. In Congress, I’ve made it my mission to ensure Virginians—especially our seniors, small business owners, and middle-class families—aren’t blindsided by skyrocketing costs they can’t afford. While the enhanced premium tax credit created during the pandemic was meant to be temporary, we should not let it expire without a plan in place. My legislation will protect hardworking Virginians from facing health insurance bills they can’t afford, thus losing much-needed access to care.”

Under current law, the enhanced Premium Tax Credit—established by the Affordable Care Act (ACA), expanded during COVID under the American Rescue Plan Act (ARPA), and later extended through the Inflation Reduction Act (IRA)—is set to expire at the end of this year. The COVID pandemic is over and these tax credits should end, but there must be a reasonable approach so hardworking families can continue to afford healthcare. 

 “In 2024 alone, more than 33,000 constituents in Virginia’s Second District relied on this tax credit to make their monthly health insurance premiums more affordable. If Congress fails to act, those same Virginians will soon face shocking cost increases that could put essential health care coverage out of reach,” Rep. Kiggans continued.

Because of this income-based premium tax credit, a record 24.2 million people signed up for coverage during open enrollment in 2025. In fact, middle-income enrollees increased from 140,000 in 2021 to 900,000 in 2024. Without this extension, millions of self-employed workers and small business owners will see their premiums increase by more than $11,000 a year. 

“We can’t pull the rug out from under hardworking families—we must give Americans more time to plan. Yet if we end this tax credit now, a family of four earning $64,000 annually in VA-02 could see their premiums increase by over $2,500 a year. Additionally, a 60-year-old couple earning $82,800 would face nearly $12,000 in higher annual premiums. This is the last thing Virginians need and it’s unacceptable,” Rep. Kiggans concluded. 

“New Yorkers, including 17,000 of my constituents, rely on the ACA’s enhanced premium tax credits to afford their health insurance,” said Congressman Tom Suozzi. At a time when the cost of living is skyrocketing and Americans are concerned about being able to afford basic necessities, we cannot allow them to face thousands of dollars of health insurance premium increases if these tax credits expire. This is too important to wait until the last second to think about solutions. I will always work across the aisle to find a middle ground that solves the problems Americans are worried about.”

“We don’t need permanent pandemic-era policy, but we do need a responsible off-ramp. Letting these subsidies expire without a plan would put health coverage out of reach for millions of families in my community and across the country. This bipartisan, targeted extension will prevent disruption, protect access, and give Congress the time needed to deliver real, lasting reform. I’ve consistently fought for health care solutions that protect patients, respect taxpayers, and bring long-overdue modernization to the system. This is a necessary step to ensure families aren’t priced out while we build a smarter, more sustainable system,” said Rep. Fitzpatrick.

“Letting the ACA Enhanced Premium Tax Credits expire would raise costs on Maine families. That’s simply not an option,” Rep. Golden said. “Mainers who buy private insurance on the ACA marketplace are staring down an average $180 monthly premium increase in January if Congress doesn’t extend these credits, with rural Mainers aged 60-64 facing the steepest increase. Many are likely to lose coverage in the face of this price spike. I’ve always said I’ll work with anyone—Democrat or Republican—to serve my constituents. I’m proud to join Congresswoman Kiggans and this bipartisan coalition to protect Mainers from increased health care costs.”

“Families in Colorado shouldn’t be faced with higher health care costs because Washington failed to act,” said Rep. Hurd. “Extending the Premium Tax Credit for another year gives Colorado families real stability while we work towards a permanent solution. I will continue to fight for common sense policies that make health care more affordable and reliable.”

“People in Northeastern Pennsylvania utilize these tax credits for their healthcare coverage,” said Rep. Bresnahan. “Pulling the rug out abruptly could create disruption and hardship. As Congress works toward broader reforms and long-term improvements to our healthcare system, we must look out for our most vulnerable.”

“Too many hardworking families across California are already struggling with healthcare costs, and the last thing they need is a sudden spike in their health insurance premiums,” said Rep. Valadao. By introducing a clean, one-year extension for the enhanced Premium Tax Credit, we can protect families from these higher costs while Congress works toward a more permanent solution.”

“Millions of Americans rely on premium tax credits to keep their health coverage,” said Rep. Kean. “Since 2021, these credits have helped rideshare drivers, working families, and many others afford private insurance on the individual market. If they expire at the end of the year, families in New Jersey and across the country will face higher costs and risk losing critical coverage. This bipartisan effort will extend the credits for another year as Congress continues working together on long-term solutions to lower health care premiums.”

“Many in our community rely on healthcare premium tax credits to care for their loved ones and keep insurance affordable,” said Rep. Young Kim. “The Bipartisan Premium Tax Credits Extension Act is critical to ensuring that working-class Californians and the most vulnerable in our community can access essential healthcare coverage as Congress works towards a responsible, long-term solution. I am proud to partner with Congresswoman Kiggans on this timely bipartisan bill.”

Cosponsors: Brian Fitzpatrick (PA-01), Jared Golden (ME-02), Jeff Hurd (CO-03), Rob Bresnahan (PA-08), Young Kim (CA-40), David Valadao (CA-22), Carlos Gimenez (FL-28), Tom Kean (NJ-07), Juan Ciscomani (AZ-06), Mike Lawler (NY-17), and Don Davis (NC-01), Marie Gluesenkamp Perez (WA-03), Maria Salazar (FL-27) 

Background: The premium tax credit was established by the ACA in 2014 to help people afford health insurance purchased through the ACA’s marketplaces. The PTC’s eligibility rules were expanded and its amounts increased by the American Rescue Plan for 2021-2022, removing the income cap and increasing the subsidy for all eligible households to help during the pandemic. The IRA extended these enhanced subsidies through 2025, though they are set to expire at the end of 2025.

Read the bill here. 

Read the one-pager here. 

Read Punchbowl’s exclusive and more reporting from Newsweek, Bloomberg, and Politico