Mr. President, I rise today to request unanimous consent on my bill to extend the Affordable Care Act's premium tax credits. Those tax credits have made it possible for over 24 million Americans in my State of Vermont and in the Presiding…
Mr. President, I rise today to request unanimous consent on my bill to extend the Affordable Care Act's premium tax credits. Those tax credits have made it possible for over 24 million Americans in my State of Vermont and in the Presiding Officer's State of Tennessee and across this entire country to have access to affordable healthcare.
Around 30,000 Vermonters receive these healthcare tax credits that then help them pay, from their own hard-earned money, for private insurance. But in Vermont, and this is true everywhere--everywhere-- annual premiums have doubled and, in some cases, way more.
I heard this directly this weekend from a farmer in the Northeast Kingdom of Vermont, which is right on the border with Canada, an incredibly hard-working, rural part of our State. It is a place, frankly, in Vermont, that is Trump country. His premium rose $1,600 a month. And what he said to me is this: Peter, if I have to pay that premium, I am going to go without healthcare.
That story is being repeated by citizens that you care about, that the chairman from Idaho cares about, and that I certainly care about.
I heard directly from Allison Mindel in Vermont. She has a 17-year- old son. He spent 174 days in a hospital fighting myeloid leukemia. He is cancer-free. That is really good news, and it is a reflection of the extraordinary care that he got at a local community hospital, where there was a quick diagnosis, and at the University of Vermont Medical Center, where he got expert care.
But that family, who was the beneficiary of having access to affordable healthcare--their premium is going to go up by $40,000. Mr. President, $40,000 is what they are going to have to pay, and they don't have that money. And they know how absolutely critical it is that they have insurance because their beloved son is alive and healthy today because they did have access to healthcare.
As you know, open enrollment began on November 1, and what is going to happen is that as folks see this notice of the sky-high premiums, they are going to opt out of insurance altogether. And they are not going to opt out because they don't want to pay it; they are going to opt out because they can't pay it.
And I have in mind a woman who she and her husband have two kids. They have a small business where they make meals, and they are a take- out.
And she said: You know, as a mother, I feel totally irresponsible if I don't have healthcare for my kids. But if I can't pay it, what do I do?
And the point here--I see the chairman of the Finance Committee. It is so good to see you, Senator. You care. I care about folks who need the healthcare that they have now. I think we all share that. But they won't have it unless we do something to extend these tax credits.
You know this is not a red-State, blue-State deal. It is not a Republican or Democratic deal. We have got some examples in other States.
A farmer and his family of four in Tennessee making $120,000 a year-- by the way, that probably includes some off-farm income, with one from the couple working off the farm, as is so often the case. Those premiums will go up $1,900 a month. That is $33,000 a year. How does a family with an income of $120,000 add $33,000 in expenses?
The small businessowner and baker, in Alabama, making $85,000 a year, will see premiums increase by $750 a month. That is about $15,000.
A mechanic, a single person in North Carolina who makes $65,000, who loses access to the tax credits--actually loses access to the tax credits entirely--and to afford any healthcare, they will have to pay $14,000 a year.
You know, the majority leader is saying that we can get what we want or we can get to an outcome if we just trust him and vote to negotiate later.
I want to say something directly to you and to all of my colleagues: I trust the majority leader. I trust John Thune. But here is a fact: It is beyond his control if we don't get an enforceable agreement because we have to get buy-in from the House of Representatives. And to the everlasting disgrace of the House of Representatives, they are not here today, and they haven't been here for over 6 weeks.
Many over there have made it clear that they want nothing to do with extending the tax credits. So, yes, I trust my Republican colleagues; I trust our Senate majority leader. But if we don't have a House that is even here, how are we going to get it?
Thank you very much.
One of the questions is, Why don't we just open up and deal with this later? And there is an answer to that. This is not about one party trying to jam the other. It is about, as the ranking member of the Finance Committee said, a deadline. Folks have to make a decision about signing up during open enrollment that began on November 1, and they are looking at these very much higher bills, and they have to figure out whether they can afford to pay them.
For many families, they won't be able to afford it. The decision is made when they get a notice that the premium is going up $30,000. That will
have spill-on effects. First of all, it will be incredibly insecure. It just will be painful for these families that are thinking they don't have health coverage for their family. And we all relate to that.
But then, they are going to get sick, and they are going to go to a community hospital, and they are going to get coverage. And the hospitals are going to try to figure out how to get paid. And the way they will do that is by seeking rate increases and then having the cost shift further escalate the expense to our employers who really deeply care about providing coverage to the folks that work for them.
I know in Oregon, in Idaho, in Ohio, your employers care about their employees, and they want them to have coverage. But if they can't afford it, you get back to the same old thing: You know what? I will try to deal with the premium increase.
The employer says: But we are not going to be able to give you that raise you need to pay the utility bills.
My heartbreak on this is that I know we all care about the well-being of the families that we represent, and there is an urgency to the moment because the open enrollment now, in November, is here, and families have to make decisions.
This body is literally the only institution in the United States of America that has the ability, that has the authority, that has the power to provide a remedy to the families we all care about.
So that is my plea to my Republican colleagues.
You know, President Trump--I don't want to, in this case, turn this into a political deal--but he is the President, and he has got enormous authority, and he has got enormous influence on the Republicans in the House and in the Senate. It would be so good if he would come and sit down and figure out how to address this problem.
And the simplest way to do it is to extend the tax credits. And then, all of us acknowledge that we have to address the cost of healthcare-- we have to.
And I, as a person who is always focused on access, the biggest threat to continued access to care for folks in Vermont is the rise in expense. At a certain point, you just can't afford it.
So you know, I know in talking to many of my Republican colleagues, they are focused on cost--totally fair. But the answer to dealing with the cost of healthcare is not to take away insurance.
People still get sick. So we have got an urgent moment here where people are just getting this horrible feeling when they open up that mail and that family who has had healthcare in 2025--and, oftentimes, it will be a couple, and they are caring about their kids, and they are caring about each other. They want that sense of confidence and purpose that comes from being a parent who loves their kids. It comes from being an employer who feels good that they are able to meet the healthcare insurance needs of their workers.
They care about it. But they get a bill where they are going to perceive it as a fail if they can't continue to provide that coverage in 2026 that folks had in 2025. Parents are going to feel that.
We can change that. We can change that. And as somebody who is deeply concerned about extending those credits so people can have healthcare-- I pledge to you--I am so glad we have got the chair and we have got the ranking member of the Finance Committee. And I can just say, on my behalf, that anything that is reasonable to do to deal with this cost that is so detrimental to the well-being of the country, that healthcare is just too expensive, I will be there.
But I do believe that the one thing we cannot do, in good conscience, is allow these premium tax credits to expire, when what that means is that the folks we care about, who have no control themselves over what the cost of healthcare is, they are just on the receiving end; that we have got to extend those, and that can bring us time to start addressing some of the concerns that my colleagues have about the cost of healthcare.
Mr. President, I ask unanimous consent that the Committee on Finance be discharged from further consideration of S. 3102 and the Senate proceed to its immediate consideration; that the Welch substitute amendment, which is at the desk, be considered and agreed to; that the bill, as amended, be considered read a third time and passed; and that the motion to reconsider be considered made and laid upon the table.
Mr. President, I want to address some of the points the chair of the Finance Committee made.
First of all, I happen to be in agreement with you that we have a broken healthcare system. No. 2, I am absolutely willing to engage with you and with anyone in this Chamber to address the rising costs, and we have made some bipartisan progress.
I support the international crises mechanism that President Trump is talking about to try to bring down prescription drug costs. We had a PBM and physician payment bill that was in legislation last year that got blown up when Elon Musk intervened.
We should be doing what you are saying, and I can just speak for myself. When it comes to talking about how we bring down the cost of healthcare, I think that is absolutely essential for the well-being of the economy and the well-being of the American people.
Also, I want to acknowledge that on COVID, it was temporary. You are right about that. Of course, that was because we had an emergency where healthcare demand went way up and employment went way down. So it is a fair point, and I owe you an answer on why it is I am standing here today asking to extend something that was temporary.
Here is the reason: We did fail to bring down the cost of healthcare. So what has happened since COVID left is there has been very significant inflation, including really high inflation in healthcare costs, and people in this country are not able to pay their bills, and it is really becoming a problem for the people you and I both represent.
So the cost of healthcare has gone way up. In fact, if we don't extend that premium support--even though, yes, it is temporary--it will expire. It is going to mean that those premium increases I cited where some folks are going to need to pay $32,000 more--they have a real problem. They are not going to be able to do it.
So you make a meritorious point, but the point I make is that those individuals and those families who are dealing with the reality that they are getting, say, a $32,000 increase have no capacity to do the things that only we have the capacity to do. They are on the receiving end. They have no control over it. So it is not like somebody in the family has been irresponsible last year where they are smoking and getting sick. They are just going about their lives, doing their work, and in the mail, they get a notice that they have to pay $32,000 more.
So, you know, the question for us is, Do we want to give them at least a year where they have some stability and then we take up the challenge? Because I think all of us here know that the cost of healthcare is totally, completely unsustainable. It is brutal.
But the reality is, however we got here, the families in every single State of this Nation are going to be faced with premium increases they can't afford.
So I just want to convey to you, Senator, my respect for your points, but that is my best response to them.
At the end of the day, the casualties of our failures as an institution to deal with healthcare costs can't become an insurmountable burden for the families we represent.
Yes. Yes.
Well, it is.
I want to be fair to my colleague because I think he wants to work with us. We obviously have different points of view, but we have to sit down, and we have to stay at it, and we have to have hearings, and we have to do the work we are blessed to be able to do.
I will, yes.
I thank you. I thank my colleagues.
I would love to get the government open, and I would love to be able to let folks know that the healthcare they had in 2025 they would be able to have in 2026.
I would like the President to do what Presidents do and that is get the parties together in a room and negotiate an outcome that works for all of us.
Whatever we do in this--this is where I want to agree with both my chairman and ranking member--we have real work to do on the cost side of healthcare. We really all have to take that on. But the approach to dealing with the high cost of healthcare can't be taking people's healthcare away; it has to be making the healthcare they have more affordable.
So I thank the gentleman. I thank my colleague Senator Wyden, our ranking member.
I yield the floor.