During a recent episode of Bloomberg’s "Balance of Power," Representative Jim McGovern (D-MA) highlighted the necessity of tax credits to ensure the Affordable Care Act (ACA) remains affordable, describing the current healthcare system as disorganized and overly focused on profit. He stated, "We need to be talking about extending the ACA tax credits so that people can afford their health insurance."

McGovern acknowledged the imperfections of the ACA but stressed the urgency of extending these tax credits to prevent significant increases in premiums and to protect millions from losing their health insurance. He expressed a desire for a more comprehensive discussion on reforming the healthcare system, advocating for a Medicare for All approach. McGovern noted that during his tenure as chairman of the Rules Committee, he facilitated the first hearing on Medicare for All in either the House or Senate, which he described as impactful. He concluded by reiterating the need for immediate action on tax credits while recognizing that holistic healthcare reform will require more time.