H.R. 6246 would extend two key provisions of the Affordable Care Act's health insurance premium tax credit beyond their current expiration dates. Specifically, the bill would allow the credit to cover people whose household income exceeds 400 percent of the federal poverty line (currently capped at that level) and would continue enhanced premium assistance amounts that help reduce health insurance costs for eligible individuals. The bill ties the expiration of these extended benefits to tariff revenue collected by the federal government—the extension will continue only as long as tariff revenues offset the increased federal spending and reduced tax revenues caused by providing these expanded credits. The bill authorizes the Treasury Secretary to estimate when tariff collections will no longer cover these costs and set an "applicable date" when the extensions end. These changes would take effect for tax years beginning after December 31, 2025, making them available to millions of Americans who purchase health insurance through the marketplace or who receive subsidized coverage.
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