S.Amdt. 5488

This amendment, submitted by Ms. Baldwin and Mrs. Shaheen, aims to make the enhanced tax credit permanent. It proposes changes to the Internal Revenue Code of 1986 starting for taxable years after December 31, 2025.

Key changes include:

• Removing the limit that says the credit does not exceed 400 percent.
• Establishing a sliding scale for the applicable percentage based on household income as a percent of the poverty line:
  • Up to 150 percent: 0 to 0
  • 150 percent up to 200 percent: 0 to 2.0
  • 200 percent up to 250 percent: 2.0 to 4.0
  • 250 percent up to 300 percent: 4.0 to 6.0
  • 300 percent up to 400 percent: 6.0 to 8.5
  • 400 percent and higher: 8.5 to 8.5
• Removing specific subparagraphs and clauses related to the affordability of coverage.