While the drug pricing provisions of the Schumer-Manchin deal have gotten significant attention in the media, there has been less focus on the measure's highest cost non-climate provision: a three-year extension of enhanced premium subsidies under the Affordable Care Act (ACA). Continuing these subsidies through 2025 would signal a major entitlement expansion, and also create the kind of “benefit cliff” that Senator Manchin had previously vowed to oppose.
