Section 1. Short title
This Act may be cited as the Health Care Affordability Act of 2024.
(a) In general
Subparagraph (A) of section 36B(c)(1) of the Internal Revenue Code of 1986 is amended by striking but does not exceed 400 percent.
(1) In general
Subparagraph (A) of section 36B(b)(3) of the Internal Revenue Code of 1986 is amended to read as follows:
(A) Applicable percentage
The applicable percentage for any taxable year shall be the percentage such that the applicable percentage for any taxpayer whose household income is within an income tier specified in the following table shall increase, on a sliding scale in a linear manner, from the initial premium percentage to the final premium percentage specified in such table for such income tier:
(A) Applicable percentage
In the case of household income (expressed as a percent of poverty line) within the following income tier: The initial premium percentage is— The final premium percentage is— Up to 150 percent 0 0 150 percent up to 200 percent 0 2.0 200 percent up to 250 percent 2.0 4.0 250 percent up to 300 percent 4.0 6.0 300 percent up to 400 percent 6.0 8.5 400 percent and higher 8.5 8.5.
(A) Paragraph (1) of section 36B(c) of such Code is amended by striking subparagraph (E).
(B) Subparagraph (C) of section 36B(c)(2) of such Code is amended by striking clause (iv).
(C) Paragraph (4) of section 36B(c) of such Code is amended by striking subparagraph (F).
(c) Effective date
The amendments made by this section shall apply to taxable years beginning after December 31, 2025.