Larson: Affordable Care Act Tax Credits Lift Americans Up
Washington, D.C. – During today’s Ways and Means Committee hearing on the proposed FY23 budget with Health and Human Services Secretary Xaiver Becerra, Rep. John B. Larson (CT-01) highlighted how the Affordable Care Act and Social Security lift Americans up.
Click here to watch Rep. Larson's remarks.
“When someone gets up in a town hall and says, ‘I was paying $1,300 a month for my health care premiums, now I’m paying $20 a month. With the savings I have, I can now optimistically put aside the money I need to educate my two daughters-’ these are the kind of anecdotal stories we hear that have come from enhancing the Affordable Care Act.
As our country works to recover from the COVID pandemic, we must continue to provide the resources Americans need,” Larson continued. “We can do that by continuing health care tax credits and by increasing Social Security benefits, so those who are most susceptible to inflation living on a fixed income have more money in their pockets.”
The President’s proposed budget would continue the extended Affordable Tax Credits originally passed through the American Rescue Plan, legislation Rep. Larson helped author and pass. Currently, the Tax Credits lower premiums so an average household in Connecticut saves $2,650 per year. Rep. Larson also introduced Social Security 2100: A Sacred Trust, which will strengthen Social Security and increase benefits for all beneficiaries.
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