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Accountancy Slice
North America
Senate Republicans are preparing to vote on a healthcare proposal that offers tax-advantaged savings accounts as an alternative to extending enhanced Affordable Care Act (ACA) subsidies, which are set to expire this year. Backed by Sens. Bill Cassidy (R-LA) and Mike Crapo (R-ID), the GOP plan would provide up to $1,500 annually for households using lower-tier ACA plans, but does not address rising premiums. Democrats have dismissed the proposal, pushing instead to extend ACA subsidies for three years at an estimated cost of $90bn. Both plans will face votes Thursday, but neither is expected to easily clear the Senate's 60-vote threshold.
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