Healthcare Reinvestment Act

Summary#

This bill repeals four specific sections (100052–100055) of Public Law 119-21 that provided funding increases to Immigration and Customs Enforcement (ICE). It cancels the amounts previously appropriated under those sections and transfers the rescinded amounts to the Secretary of the Treasury. The transferred money is to be used to extend parts of section 36B of the Internal Revenue Code of 1986 related to certain healthcare tax credit rules (subsections (b)(3)(A)(iii) and (c)(1)(E)). The bill also requires the Treasury to publish an annual report on the use of these funds, including the number of people who kept eligibility for the tax credits under section 36B, and it requires annual audits by the Treasury Inspector General for Tax Administration (TIGTA).

What it means for you#

  • The bill removes specific funding increases that had been directed to ICE and moves that money to the Treasury to keep certain parts of section 36B in effect.
  • The Treasury must publish yearly information about how the transferred funds were used and how many people stayed eligible for the named tax credits.
  • TIGTA will audit the use of the transferred funds each year.

Expenses#

  • The bill rescinds the amounts appropriated under sections 100052–100055 of Public Law 119-21 and reallocates those rescinded amounts to the Treasury.
  • No publicly available information on the dollar amounts being rescinded or reallocated is included in the bill text provided.

Proponents' View#

  • The sponsors would remove the specified ICE funding increases and redirect those funds to extend certain health-care-related tax credit provisions in section 36B.
  • The bill adds transparency and oversight by requiring annual Treasury reports and TIGTA audits of the transferred funds.

Opponents' View#

  • No publicly available information on opponents’ views is included in the provided text.