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Portman, Brown Introduce Extension of Health Coverage Tax Credit

Portman, Brown Introduce Extension of Health Coverage Tax Credit

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Well being Protection Tax Credit score is Critically Critical for Countless numbers of Hardworking Delphi Retirees in Ohio



December 16, 2021

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Press Releases

WASHINGTON, DC – Currently, U.S. Senators Rob Portman (R-OH) and Sherrod Brown (D-OH) introduced legislation that will prolong for 4 decades the Wellbeing Protection Tax Credit history (HCTC) for retirees who missing their wellness care coverage — in addition to their pensions and other advantages — when their companies both entered into individual bankruptcy or laid off workers because of to international trade. The HCTC is critically vital for numerous hardworking Ohioans, like as a lot of as 5,000 Delphi salaried retirees in Dayton, the Mahoning Valley, and Sandusky. In addition, a few hundred employees from the Lordstown Basic Motors plant have used for Trade Adjustment Assistance (TAA) and would advantage from the HCTC as properly. Reps. Mike Turner (R-OH) and Jared Golden (D-ME) launched companion laws in the Dwelling of Associates.

“Thousands of retirees in Ohio and their families rely on the Overall health Protection Tax Credit, and this bipartisan laws will ensure it will be available for them,” Portman explained. “Since I arrived to the Senate, I have fought for a number of extensions of the HCTC, including my bill that was integrated in the Trade Tastes Extension Act of 2015 the previous time the credit history was extended. These hardworking Ohioans rely on the HCTC for affordable wellbeing insurance policies immediately after their pensions were being terminated or right after they were adversely impacted by international trade, and I urge my colleagues to sign up for me in supporting this legislation to be certain the balance of well being coverage for these men and women and their households.” 

“The Wellness Coverage Tax Credit history is a lifeline for 1000’s of Ohioans, numerous of whom are residing on set incomes after getting rid of their pensions and health care. This important laws will help make certain these retirees and personnel get the reduction they will need in get to afford to pay for health care,” explained Brown.  

The HCTC, which is established to expire on January 1, 2022, will help to decrease the price of preserving wellness coverage protection for a selection of people that are both receiving TAA rewards or are concerning the ages of 55-64 a long time old  whose pensions ended up terminated and are becoming administered by the Pension Profit Warranty Corporation. Portman and Brown labored alongside one another to prolong this tax credit history in 2011, 2015, and 2019.  

“The HCTC has unquestionably been a everyday living saver for the DSRA membership.   Because we dropped all our health and fitness treatment and everyday living coverage all through the Automobile Bailout, lots of of our customers were forced to both go devoid of health and fitness care coverage or fork out a big vast majority – or in some cases even more than – their diminished pensions.  HCTC tends to make Health and fitness Care coverage extra affordable, and only applies to all those who will need it.  We are grateful to Senator Portman for championing the exertion to preserve the HCTC a precedence,” explained Bruce Gump, Chairman, Delphi Salaried Retirees Association.

“APFA commends Senator Portman and Senator Brown for introducing legislation that would reauthorize the Wellbeing Protection Tax Credit rating (HCTC) upcoming year by way of 2025. This successful, bipartisan application has aided several retired staff keep economical health and fitness insurance. For APFA associates who misplaced their comprehensive pensions throughout airline bankruptcies, the HCTC has served as a essential bridge to Medicare eligibility. Thank you, Senator Portman and Senator Brown, for your continuing management to guarantee difficult-operating People can find the money for and manage top quality overall health coverage,” said Julie Hedrick, Countrywide President, Affiliation of Specialist Flight Attendants.

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