DENVER – Today, Governor Jared Polis joined a group of governors from across the country in urging congressional leadership to extend the Enhanced Premium Tax Credit (EPTC) before it expires at the end of 2025. Governor Polis signed onto a letter led by Delaware Governor Matt Meyer and co-signed by the governors of California, Connecticut, Illinois, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New Mexico, New York, North Carolina, Oregon, Rhode Island, Washington, and Wisconsin.
The letter to Speaker Mike Johnson, Leader Hakeem Jeffries, Leader John Thune, and Leader Chuck Schumer warns that letting the tax credits expire will drive premiums up by thousands of dollars, push millions of Americans off coverage, and force families to choose between health care, rent, and groceries. The governors emphasized that the impact would be especially severe for small business owners, older Americans not yet on Medicare, and rural communities.
“We’ve taken actions in Colorado to hold down health premium increases, but without action from Congress, those gains will be wiped away — particularly in rural areas,” said Governor Jared Polis. “I’m proud to join governors from across the country in calling on Congress to extend these tax credits now. Coloradans deserve affordable, stable coverage, and only Congress can prevent drastic premium increases this fall.”
This letter builds on the efforts Governor Polis has made to raise awareness of this issue. Last Tuesday, Governor Polis hosted a roundtable discussion in Grand Junction with small business owners, non-profit and chamber leaders, and local elected officials to discuss the impacts on Western Slope businesses and Coloradans who buy health insurance through the Affordable Care Act marketplace. Later that day, Governor Polis and Lt. Governor Dianne Primavera sent a letter to Colorado’s congressional delegation that outlined the devastating impact the loss of the tax credit would have on Colorado families, small businesses, and rural hospitals. According to the Colorado Division of Insurance, premiums could rise by more than 300% in some rural counties, with more than 75,000 Coloradans projected to lose coverage even after state-level actions to blunt the impact.
The Governor and Lieutenant Governor’s earlier letter made clear that while Colorado has taken preemptive steps to limit the damage of the tax credit failing to pass - including passage of HB25B-1006 during the August special legislative session - only Congress can prevent catastrophic premium hikes. They urged Colorado’s federal delegation to extend the EPTC by September 30 as part of the upcoming continuing resolution funding bill.
“Colorado is doing everything possible to keep health care affordable, but we can’t protect families on our own,” said Governor Polis. “Congress must extend these tax credits this month to avoid sticker shock for families and employers and to protect the health and financial stability of communities across Colorado.”
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