Obamacare tax credits look likely to expire as Trump rules out an extension

Republicans are unlikely to renew Affordable Care Act subsidies before year-end deadline, as Obamacare health insurance premiums soar.

WASHINGTON — Inside a closed-door meeting of House Republicans on Tuesday, Rep. Jen Kiggans, a swing district member who is a linchpin of the party’s narrow majority, stood up and made a plea.

“Doing nothing on health care is not the right answer,” the Virginia Republican later told NBC News, summing up her message to colleagues. “I would really appreciate if we could have a timeline because we know that the end of the calendar year is coming, and I don’t want to see people’s premiums go up. I don’t want to see people lose their health insurance.”

The remarks drew an unspectacular reception.

“Average,” Kiggans replied when asked how it was received. “We line up, we have our one minute to state our case. Usual reaction.”

Republicans seek an alternative to Obamacare03:33Republicans are careening to a health care cliff with no solution in hand. An estimated 22 million people in the U.S. are about to see their health insurance premiums soar by, in some cases, thousands of dollars per month, as billions in funding for the Affordable Care Act expires on Dec. 31. The expiring funds, costing about $35 billion per year, were first passed during the pandemic to subsidize insurance payments, capping premiums for a “benchmark” ACA, or “Obamacare,” plan to 8.5% of income.