DENVER ~ Governor Jared Polis of Colorado has 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. The governor signed onto a letter, led by Delaware Governor Matt Meyer and co-signed by 17 other governors, including those from California, Connecticut, Illinois, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New Mexico, New York, North Carolina, Oregon, Rhode Island, Washington and Wisconsin.

The letter was addressed to Speaker Mike Johnson, Leader Hakeem Jeffries, Leader John Thune and Leader Chuck Schumer. It warned that letting the tax credits expire would have severe consequences such as driving premiums up by thousands of dollars and pushing millions of Americans off coverage. The governors emphasized that this would force families to make difficult choices between health care expenses and other basic needs such as rent and groceries. They also highlighted that small business owners, older Americans not yet on Medicare and rural communities would be disproportionately affected.

Governor Polis stated that while Colorado has taken steps to hold down health premium increases on its own accord, without action from Congress these efforts would be rendered useless. He stressed the urgency of extending the tax credits now in order to prevent drastic premium increases this fall. The governor also mentioned his recent roundtable discussion in Grand Junction with small business owners and local leaders to discuss the impacts on Western Slope businesses and Coloradans who buy health insurance through the Affordable Care Act marketplace.

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In addition to this roundtable discussion, Governor Polis and Lt. Governor Dianne Primavera sent a letter to Colorado's congressional delegation outlining the devastating impact that the loss of the tax credit would have on Colorado families, small businesses and rural hospitals. According to the Colorado Division of Insurance's projections, premiums could rise by more than 300% in some rural counties with over 75,000 Coloradans projected to lose coverage even after state-level actions to mitigate the impact.

The governor and lieutenant governor's letter made it clear that while Colorado has taken preemptive steps to limit the damage of the tax credit failing to pass, only Congress has the power to 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.

Governor Polis reiterated that Colorado is doing everything possible to keep health care affordable, but they cannot protect families on their own. He emphasized that it is crucial for Congress to extend these tax credits this month in order to avoid sticker shock for families and employers and protect the health and financial stability of communities across Colorado.

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