Schumer Releases Doomed Democratic Healthcare Plan

Happy Thursday! Pantone today announced its "Color of the Year" for 2026: an "ethereal" shade of white called "Cloud Dancer." As The Washington Post's Rachel Kurzius notes, at a time when white nationalism is very much in the news, "proclaiming a white the color of 2026 might raise some eyebrows." But Pantone says that its choice offers "a whisper of tranquility and peace in a noisy world" and signifies a desire for a fresh start. "At this time of transformation, when we are reimagining our future and our place in the world, PANTONE 11-4201 Cloud Dancer is a discrete white hue offering a promise of clarity," Leatrice Eiseman of the Pantone Color Institute, said in a news release.

We're wondering what color would signify lower healthcare premiums. Here's your evening update.

Democrats Unveil Doomed Healthcare Proposal as Republicans Scramble for Their Own Plan

Senate Democrats are looking to extend enhanced Affordable Care Act subsidies for three years in a vote next week, Minority Leader Chuck Schumer announced Thursday.

Majority Leader John Thune last month promised Democrats a vote on their healthcare proposal in exchange for ending the government shutdown, and that vote is expected to take place next Thursday, just weeks before the subsidies are set to expire.

"Republicans have one week to decide where they stand: Vote for this bill and bring health care costs down, or block this bill and send premiums skyrocketing," Schumer said.

The proposal would prevent premiums for ACA healthcare plans from rising sharply for millions of Americans on January 1. Although the "clean" bill arrives with the full support of Senate Democrats, it is expected to fail due to Republican opposition.

Senate Republicans are reportedly considering a counterproposal, but it's not clear that they will be able to develop a plan to offer in the few legislative days left on the calendar.

House Republicans scramble for a plan: With some GOP lawmakers worried that Republicans will take the lion's share of the blame if Congress fails to find a solution for the problem of rising ACA premiums, House Speaker Mike Johnson is reportedly rushing to develop his own healthcare proposal, but its form and substance are up in the air.

Any House plan that emerges is expected to include various proposals that Republicans have been discussing in recent weeks. One proposal would allow a wider range of insurance plans, including "association health plans" offered by groups of small businesses. Another likely proposal would expand the use of health savings accounts.

Republicans may also include proposals intended to reduce drug costs, a favorite theme of President Trump's. Pollster Tony Fabrizio advised House Republicans this week to focus on drug prices to redirect voter attention away from the problem of the ACA subsidies.

A bipartisan long shot: Bipartisan efforts to reach a compromise deal have foundered so far. A group of centrist lawmakers led by Democratic Rep. Josh Gottheimer and Republican Rep. Jen Kiggans released a proposal Thursday that would extend the enhanced ACA subsidies for two years. Backed by 35 House Republicans and Democrats, the plan includes more restrictive income caps for subsidies and the elimination of no-cost premiums, with some exceptions.

"We're calling for a vote by December 18 in both chambers of Congress to get something done before premiums rise in January," Gottheimer told reporters Thursday.

Kiggans noted that 40,000 people rely on ACA plans in her Virginia district. "Doing nothing to prevent a spike in their premiums is wrong," she said.

There's no indication, though, that House leaders have much interest in the centrist, bipartisan effort. Hostility toward the Affordable Care Act remains high among Republicans, and it's not clear that Johnson and his leadership team are willing to risk a backlash from more conservative members if they were to step in and provide a lifeline for the program.

Still, there is pressure to act before the subsidies expire. "Doing nothing is not an option," said Republican Rep. Kevin Kiley, who backed the proposal. "Let's be honest, this has not exactly been the finest hour for the U.S. House of Representatives. Over the last several months, the House has been missing in action in a lot of ways."

Number of the Day: 924

The number of billionaires in the United States climbed to 924 as of early April, up from 835 the year before, an increase of about 11%, according to a new report from Swiss banking giant UBS. The report says that the wealth of U.S. billionaires rose by 18% year-over-year to $6.9 trillion. The country was home to 87 new self-made billionaires, with a total wealth of $171.9 billion. And the six U.S. tech billionaires whose wealth increased the most during the year between reports collectively became $171 billion richer, a rise of over a quarter.

The U.S. billionaire population accounts for almost a third of the global total of 2,919, according to UBS. Both the number of billionaires worldwide and their combined wealth - $15.8 trillion, up 13% in 12 months - reached record highs.

Fiscal News Roundup

• Schumer Says Democrats Will Bring Up Bill to Extend Health Care Tax Credits for 3 Years - CBS News
• Mike Johnson Races to Finalize Elusive GOP Health Care Plan - Politico
• Bipartisan House Group Proposes Long-Shot Health Care Plan - New York Times
• Trump Wants a Health Care Deal. He's Leaving the Details to Congress - Politico
• Poll Suggests G.O.P. Will Face More Blame if Obamacare Subsidies Go Away - New York Times
• ACA Marketplace Allowed Fake Enrollees, Possible Fraud, GAO Says - Roll Call
• Republican Anger Erupts at Johnson as Party Frets About Future - New York Times
• Mike Johnson Scrambles to Pass Pentagon Bill as GOP Ranks Seethe - Politico
• Mike Johnson Works in Secret to Strip IVF Health Coverage From Defense Bill - MS NOW
• As Trump Threatens to Leave North American Deal, Supporters Urge Him to 'Do No Harm' - New York Times
• Layoff Announcements Top 1.1 Million This Year, the Most Since 2020 Pandemic - CNBC
• Poll: Trump's Own Voters Begin Blaming Him for Affordability Crisis - Politico
• Trump Plots a Travel Blitz to Tout His Economy - Axios
• Momentum Builds for Bigger Capital Gains Tax Break on Home Sales - Roll Call
• Bond Investors Warned US Treasury Over Picking Hassett as Fed Chair - Financial Times
• Top Senate Health Leader Calls CDC Vaccine Panel 'Totally Discredited' - STAT

Views and Analysis

• As Health Care Subsidies Teeter, Congress Is Again at an Impasse - Carl Hulse, New York Times
• U.S. Health Care Is Broken. Here Are 3 Ways It's Getting Worse - Maria Aspan, NPR
• Sprinting Toward Healthcare Gridlock - Kimberley A. Strassel, Wall Street Journal
• Why Democrats Won the Shutdown - Neera Tanden, Wall Street Journal
• Main Street Bust Threatens the Entire Economy - Courtenay Brown, Axios
• 18,000 Reasons It's So Hard to Build a Chip Factory in America - Peter S. Goodman and Loren Elliott, New York Times
• Kennedy's Methodical 2-Decade Quest to Dismantle Vaccine Policy - Sheryl Gay Stolberg and Christina Jewett, New York Times
• Under Kennedy, America's Health Department Is in the Business of Promoting Kennedy - Darius Tahir, KFF Health News
• Why the Free Birth Movement's Popularity Threatens Public Health - Jessica Grose, New York Times
• A $2,000 Tariff Dividend for Everyone? Bad Idea - Bloomberg Editorial Board
• Tariffs Can Make Work Pay Again - Arthur Laffer and Stephen Moore, Wall Street Journal
• An Old-Fashioned Cure for Fading Trust in Government - Clive Crook, Bloomberg
• Why the New 'Signalgate' IG Report Is So Damning for Pete Hegseth - Aaron Blake, CNN