This week, U.S. House Rep. Jeff Hurd co-sponsored the Bipartisan Premium Tax Credit Extension Act, a bill designed to “protect Colorado families, seniors and small business owners from massive healthcare premium increases.”
The Enhanced Premium Tax Credit was established by the Affordable Care Act (ACA), expanded during the COVID-19 pandemic under the Biden administration’s American Rescue Plan Act (ARPA), and later extended through the Inflation Reduction Act.
However, the credit is set to expire at the end of this year, which would lead to middle-income families seeing a sharp increase in annual health insurance premiums, as well as an $11,000 annual increase in premium costs for self-employed workers and small business owners.
In Colorado’s 3rd Congressional District, which Hurd (R-G