The Senate Resolution urges the United States Congress and the President to permanently extend the Enhanced Premium Tax Credit established under the Affordable Care Act (ACA). This tax credit is designed to make health insurance more affordable for individuals and families purchasing coverage through the federal Health Insurance Marketplace, particularly benefiting low- and middle-income Americans. The resolution highlights that approximately 21.8 million Americans, including around 484,000 residents of Michigan, currently rely on this tax credit, which has been expanded under recent legislation, including the American Rescue Plan Act and the Inflation Reduction Act. These expansions have led to significant reductions in health insurance costs and record enrollment, contributing to historic lows in the uninsured population.

The resolution emphasizes the potential negative consequences of not extending the Enhanced Premium Tax Credit, which could lead to increased healthcare costs for millions of Americans and a reversal of the coverage gains achieved in recent years. It points out that working families, seniors not yet eligible for Medicare, and individuals with chronic health conditions would be disproportionately affected by any loss or reduction of the credit. The resolution concludes by stating that sustaining the Enhanced Premium Tax Credit is crucial for stabilizing the health insurance marketplace and ensuring equitable access to affordable healthcare for all Americans. Copies of the resolution will be sent to key federal officials and Michigan's congressional delegation.