The Senate Finance Committee has passed an amendment sponsored by Sens. Sherrod Brown (D-Ohio) and Rob Portman (R-Ohio) that would extend the Health Coverage Tax Credit (HCTC) for retirees who lost their health care coverage — in addition to their pensions and other benefits — when the companies for which they worked either entered into bankruptcy or moved operations overseas.
The amendment was included in the Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act, which passed the Senate Finance Committee this week. Extending the Health Coverage Tax Credit (HCTC) is of particular importance to retired United Steelworkers and Delphi salaried retirees struggling to maintain affordable healthcare. In addition to Brown and Portman, the amendment is cosponsored by Sens. Jay Rockefeller (D-W.Va.), Bob Casey (D-Pa.), Chuck Schumer (D-N.Y.), and Debbie Stabenow (D-Mich.).
“This amendment means that hardworking families who lost their health care coverage, pension, and other benefits will receive the assistance they need to help pay their health care bills,” Brown said. “The Health Coverage Tax Credit also helps the more than 20,000 Delphi salaried retirees who lost significant amounts of their hard-earned pensions and who now face financial hardship.”
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