Bob von Schwedler Permanent Health Coverage Tax Credit Expansion Act

Hozzl · 2023-12-18T22:15:21Z

Explore the details of House Bill 3912 Bob von Schwedler Permanent Health Coverage Tax Credit Expansion Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

12/18/2023, 10:15 PM

Summary of Bill HR 3912

Bill 118 HR 3912, also known as the Bob von Schwedler Permanent Health Coverage Tax Credit Expansion Act, aims to expand the availability of tax credits for individuals who purchase health insurance. The bill was introduced by Representative Bob von Schwedler and is currently being considered by the US Congress.

If passed, this legislation would increase the tax credit available to individuals who purchase health insurance through the marketplace established by the Affordable Care Act. The bill would also make the tax credit permanent, ensuring that individuals can continue to receive financial assistance for their health insurance premiums in the future.

Additionally, the Bob von Schwedler Permanent Health Coverage Tax Credit Expansion Act would expand eligibility for the tax credit to include individuals who are not currently eligible under the Affordable Care Act. This would help more people afford health insurance and access the care they need. Overall, this bill aims to make health insurance more affordable and accessible for individuals across the country. It is currently being debated in Congress, and its fate will ultimately be decided by lawmakers in the coming months.

Congressional Summary of HR 3912

Bob von Schwedler Permanent Health Coverage Tax Credit Expansion Act

This bill permanently reauthorizes and expands the Health Coverage Tax Credit.

As previously enacted, the Health Coverage Tax Credit covered 72.5% of health insurance costs for certain Trade Adjustment Assistance (TAA) recipients, alternative TAA recipients, and Pension Benefit Guaranty Corporation pension recipients. The credit expired in December 2021.

The bill permanently reauthorizes the credit and expands the credit to cover 80% of health insurance costs.

Read the Full Bill

Formatted Text PDF Formatted XML

Current Status of Bill HR 3912

Bill HR 3912 is currently in the status of Bill Introduced since June 7, 2023. Bill HR 3912 was introduced during Congress 118 and was introduced to the House on June 7, 2023. Bill HR 3912's most recent activity was Referred to the House Committee on Ways and Means. as of June 7, 2023