Section 1 Short title
This Act may be cited as the “Helping Every American Lower Their Healthcare Act” or the “HEALTH Act”.
Helping Every American Lower Their Healthcare Act
A BILL
To amend the Internal Revenue Code of 1986 to extend certain provisions of the health insurance premium tax credit, to rescind unobligated balances for providing assistance to Argentina, and for other purposes.
Sec. 2 Extension of health insurance premium tax credit provisions
Extension of rule To allow credit to taxpayers whose household income exceeds 400 percent of poverty line— Subparagraph (E) of section 36B(c)(1) of the Internal Revenue Code of 1986 is amended to read as follows:
“(E) Temporary rule
“(i) In general—In the case of a taxable year beginning before the applicable date, subparagraph (A) shall be applied without regard to “but does not exceed 400 percent”.
“(ii) Applicable date—For purposes of clause (i), the term “applicable date” means the latest date which the Secretary estimates will result in—
“(I) the sum of the increase in outlays, and the reduction in revenues, of the Federal Government by reason of this subparagraph and subsection (b)(3)(A)(iii), not exceeding
“(II) the decrease in outlays of the Federal Government by reason of section 3 of the Helping Every American Lower Their Healthcare Act.
“(iii) Method of estimation—To the maximum extent practicable, the estimates of the Secretary under clause (ii) shall be made in the same manner as such estimates are made by the Congressional Budget Office and the Joint Committee on Taxation with respect to proposed legislation.”
Extension of rules To increase premium assistance amounts— Clause (iii) of section 36B(b)(3)(A) of such Code is amended—
in the heading, by striking “for 2021 through 2025”, and
in the matter preceding subclause (I), by striking “January 1, 2026” and inserting “the applicable date (as defined in subsection (c)(1)(E))”.
Effective date— The amendments made by this section shall apply to taxable years beginning after December 31, 2025.
Sec. 3 Rescission of unobligated balances for providing assistance to Argentina
Effective on the date of the enactment of this Act, the unobligated balances of any amounts appropriated or otherwise made available for providing assistance to Argentina are rescinded.