1. Short title
This Act may be cited as the “Health Care Coverage for Displaced Workers Act”.
Health Care Coverage for Displaced Workers Act
A BILL
To amend the Internal Revenue Code of 1986 to improve the affordability of the health care tax credit, and for other purposes.
2. Improvement of the affordability of the health care tax credit
Increase in credit— Subsection (a) of section 35 of the Internal Revenue Code of 1986 is amended by striking “72.5 percent” and inserting “80 percent”.
Permanent extension— Subparagraph (B) of section 35(b)(1) of the Internal Revenue Code of 1986 is amended by striking “, and before January 1, 2014”.
Conforming amendments—
Subsection (b) of section 7527 of the Internal Revenue Code of 1986 is amended by striking “72.5 percent” and inserting “80 percent”.
Paragraph (1) of section 7527(e) of such Code is amended by striking “72.5 percent” and inserting “80 percent”.
Effective date— The amendments made by this section shall apply to coverage months beginning after the date of the enactment of this Act.