Bob von Schwedler Permanent Health Coverage Tax Credit Expansion Act

Bob von Schwedler Permanent Health Coverage Tax Credit Expansion Act

This bill permanently reauthorizes and expands the Health Coverage Tax Credit.

As previously enacted, the Health Coverage Tax Credit covered 72.5% of health insurance costs for certain Trade Adjustment Assistance (TAA) recipients, alternative TAA recipients, and Pension Benefit Guaranty Corporation pension recipients. The credit expired in December 2021.

The bill permanently reauthorizes the credit and expands the credit to cover 80% of health insurance costs.