House Democrats are urging Republican leaders to schedule a vote on extending enhanced Affordable Care Act (ACA) tax credits before they expire, according to a statement released Thursday. The push comes as the credits, designed to lower healthcare costs for millions of Americans, are set to phase out at the end of the year.

Democrats argue that allowing these subsidies to expire would significantly increase healthcare premiums for many individuals and families who rely on the ACA marketplace. They contend that the expiration could impact an estimated 4 million people, potentially making coverage unaffordable for some.

The enhanced tax credits were initially implemented as part of the American Rescue Plan Act of 2021, providing increased financial assistance to those purchasing health insurance through the ACA marketplaces. These credits have been credited with helping to maintain enrollment levels and keep premiums down during the COVID-19 pandemic.

House Democrats have formally requested a vote, expressing concern that inaction from Republican leaders could jeopardize access to affordable healthcare for millions. The timing of the request underscores the urgency of the situation, with the expiration date rapidly approaching. Negotiations on extending the credits are expected to be challenging given the divided Congress and differing priorities on healthcare policy.

The current subsidies are scheduled to expire December 31, 2023. Failure to act before then could lead to substantial premium increases in 2024, impacting consumers across the country.