Today marks 257 consecutive days that this Congress has failed to take meaningful action to address the cost-of-living crisis weighing heavily on struggling American families. Regrettably, the President and Republican leadership have made life more difficult and less affordable for hardworking families across our Nation through chaotic trade policies and devastating cuts to healthcare and food programs. The pending expiration of health insurance subsidies at the close of this year, in particular, threatens to impose a severe and unwarranted tax hike on the middle class. Allowing these subsidies to lapse will cause out-of-pocket premiums for enrolled Americans to soar by an astounding 93 percent. This drastic reduction in subsidies will also compel many healthy individuals to forgo insurance altogether, leaving a sicker population behind and forcing insurers to raise premiums across the board. As a result, even families who do not receive these subsidies will see their premiums increase by 18 percent. This single policy shift would strip health coverage from more than 5 million Americans, adding to the 10 million projected to lose insurance due to President Trump's Medicaid cuts. Those fortunate enough to retain their insurance will face a staggering cost increase. A family of four earning just $90,000 annually could see their premiums escalate by as much as 69 percent.
Editor's note · Context
Addressing the cost-of-living crisis and health insurance subsidies during a speech in Congress.
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