Summary
The U.S. Senate moved forward with a plan to end the government shutdown and will vote next month on whether to extend subsidies for the Affordable Care Act (ACA), known as Obamacare. The future of these subsidies is uncertain because of differing views between Democrats and Republicans, and the decision impacts healthcare costs for many Americans.
Key Facts
- The U.S. Senate voted 60-40 to advance a bill to end the government shutdown.
- ACA subsidies are central to debates between Democrats, who want to extend them, and Republicans, who are less supportive.
- Subsidies for the ACA are set to expire at the end of the year.
- ACA subsidies were expanded in 2021 during the COVID-19 pandemic to help more Americans access health insurance.
- Republicans have promised a future vote on extending the subsidies, but it is uncertain if they will pass it.
- If not extended, the cost of health insurance could rise significantly, affecting 24 million Americans who rely on these subsidies.
- Health insurance companies' stock prices dropped in response to the uncertainty surrounding the subsidies.
