[Congressional Record Volume 170, Number 125 (Wednesday, July 31, 2024)]
[Senate]
[Pages S5712-S5713]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 3214. Mrs. SHAHEEN submitted an amendment intended to be proposed 
by her to the bill H.R. 7024, to make

[[Page S5713]]

improvements to the child tax credit, to provide tax incentives to 
promote economic growth, to provide special rules for the taxation of 
certain residents of Taiwan with income from sources within the United 
States, to provide tax relief with respect to certain Federal 
disasters, to make improvements to the low-income housing tax credit, 
and for other purposes; which was ordered to lie on the table; as 
follows:

        At the end of title I, insert the following:

     SEC. 106. INCREASE IN ELIGIBILITY FOR PREMIUM TAX CREDIT.

       (a) Eligibility.--
       (1) In general.--Subparagraph (A) of section 36B(c)(1) is 
     amended by striking ``but does not exceed 400 percent''.
       (2) Conforming amendment.--Paragraph (1) of section 36B(c) 
     is amended by striking subparagraph (E).
       (b) Applicable Percentages.--
       (1) In general.--Subparagraph (A) of section 36B(b)(3) of 
     the Internal Revenue Code of 1986 is amended to read as 
     follows:
       ``(A) Applicable percentage.--The applicable percentage for 
     any taxable year shall be the percentage such that the 
     applicable percentage for any taxpayer whose household income 
     is within an income tier specified in the following table 
     shall increase, on a sliding scale in a linear manner, from 
     the initial premium percentage to the final premium 
     percentage specified in such table for such income tier:


------------------------------------------------------------------------
                                            The initial      The final
   ``In the case of  household income         premium         premium
   (expressed as a  percent of poverty    percentage is-- percentage is--
 line) within the following income tier:
------------------------------------------------------------------------
Up to 150 percent.......................               0               0
150 percent up to 200 percent...........               0             2.0
200 percent up to 250 percent...........             2.0             4.0
250 percent up to 300 percent...........             4.0             6.0
300 percent up to 400 percent...........             6.0             8.5
400 percent and up......................             8.5         8.5.''.
------------------------------------------------------------------------

       (2) Conforming amendments relating to affordability of 
     coverage.--
       (A) Subparagraph (C) of section 36B(c)(2) of such Code is 
     amended by striking clause (iv).
       (B) Paragraph (4) of section 36B(c) of such Code is amended 
     by striking subparagraph (F).
       (c) Limitation on Recapture.--Clause (i) of section 
     36B(f)(2)(B) of the Internal Revenue Code of 1986 is 
     amended--
       (1) by striking ``400 percent'' and inserting ``800 
     percent'';
       (2) by striking the period at the end of the last row of 
     the table; and
       (3) by adding at the end of the table the following new 
     rows:


 
 
------------------------------------------------------------------------
``At least 400 percent but less than 600 percent...........       $3,500
 At least 600 percent but less than 800 percent............   $4,500.''.
------------------------------------------------------------------------

       (d) Premium Cost Standard.--
       (1) In general.--The following provisions of section 36B of 
     the Internal Revenue Code of 1986 are each amended by 
     striking ``silver'' each place it appears and inserting 
     ``gold'':
       (A) Paragraphs (2)(B)(i), (3)(B), and (3)(C) of subsection 
     (b).
       (B) The heading of subparagraph (B) of subsection (b)(3).
       (C) Subsection (c)(4)(C)(i)(I).
       (2) Conforming amendments to reduced cost-sharing.--Section 
     1402(b)(1) of the Patient Protection and Affordable Care Act 
     (42 U.S.C. 18071(b)(1)) is amended by striking ``silver'' and 
     inserting ``gold''.
       (e) Effective Date.--The amendments made by this section 
     shall apply to taxable years beginning after December 31, 
     2024.

     SEC. 107. ENHANCEMENTS FOR REDUCED COST-SHARING.

       (a) Modification of Amount.--
       (1) In general.--Section 1402(c)(2) of the Patient 
     Protection and Affordable Care Act (42 U.S.C. 18071(c)(2)) is 
     amended--
       (A) by striking ``150 percent'' in subparagraph (A) and 
     inserting ``200 percent'',
       (B) by striking ``94 percent'' in subparagraph (A) and 
     inserting ``95 percent'',
       (C) by striking ``150 percent but not more than 200 
     percent'' in subparagraph (B) and inserting ``200 percent but 
     not more than 300 percent'',
       (D) by striking ``87 percent'' in subparagraph (B) and 
     inserting ``90 percent'',
       (E) by striking ``200 percent'' in subparagraph (C) and 
     inserting ``300 percent'',
       (F) by striking ``250 percent'' in subparagraph (C) and 
     inserting ``400 percent'', and
       (G) by striking ``73 percent'' in subparagraph (C) and 
     inserting ``85 percent''.
       (2) Conforming amendment.--Clause (i) of section 
     1402(c)(1)(B) of such Act (42 U.S.C. 18071(c)(1)(B)) is 
     amended to read as follows:
       ``(i) In general.--The Secretary shall ensure the reduction 
     under this paragraph shall not result in an increase in the 
     plan's share of the total allowed costs of benefits provided 
     under the plan above--

       ``(I) 95 percent in the case of an eligible insured 
     described in paragraph (2)(A);
       ``(II) 90 percent in the case of an eligible insured 
     described in paragraph (2)(B); and
       ``(III) 85 percent in the case of an eligible insured 
     described in paragraph (2)(C).''.

       (3) Effective date.--The amendments made by this subsection 
     shall apply to plan years beginning after December 31, 2024.
       (b) Funding.--Section 1402 of the Patient Protection and 
     Affordable Care Act (42 U.S.C. 18071) is amended by adding at 
     the end the following new subsection:
       ``(g) Funding.--Out of any funds in the Treasury not 
     otherwise appropriated, there are appropriated to the 
     Secretary such sums as may be necessary for payments under 
     this section.''.
                                 ______