NEW REPORT: Loss of Health Insurance Premium Tax Credits Projected to Cost States $34 Billion in GDP and More Than $2 Billion in Lost Tax Revenue

A new report from the Commonwealth Fund and the George Washington University Milken Institute School of Public Health finds that if Congress allows enhanced premium tax credits to expire at the end of 2025, communities nationwide will experience significant economic impacts. The report projects that state economies would shrink by billions of dollars, hundreds of thousands of jobs — many in the health care sector — would be lost, and more than $2 billion in state and local tax revenue would disappear, as people become uninsured and health insurers and health care providers lose revenue.

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