Chamber Insider Blog

Lansdowne, Virginia – The Loudoun Chamber of Commerce, which represents nearly 1,100 businesses in Northern Virginia, is urging federal lawmakers to extend the enhanced premium tax credits set to expire in 2025. These tax credits have played a vital role in expanding access to affordable, high-quality healthcare while reducing financial burdens for Loudoun County residents and businesses.

Since 2021, more than 350,000 Virginians—including many of the 80,000 small business owners and self-employed workers who rely on individual Marketplace coverage—have benefited from the enhanced credits. These subsidies have significantly lowered premiums, providing critical financial relief and cost predictability for entrepreneurs and small employers across the region.

“Failing to extend the enhanced premium tax credits will have serious economic and human consequences,” the Chamber said in a statement. “Rising healthcare costs threaten the stability of our workforce and the viability of small businesses.”

If Congress does not act, the expiration of these tax credits could lead to:

• Sharp increases in healthcare premiums, placing coverage out of reach for thousands of Virginia families;
• The loss of more than 2,000 jobs statewide;
• A $254 million reduction in Virginia’s GDP by 2026.

As an example, a Virginia couple in their early 60s with an annual income of $82,800 could see their healthcare premiums increase by over $11,900 without the tax credits.

“These tax credits have delivered real, measurable benefits to Loudoun County’s economy and our residents’ well-being,” said Chamber leaders. “Extending them is a commonsense investment in our workforce and local businesses said Theo Stamatis, Loudoun Chamber.”

The Loudoun Chamber welcomes the opportunity to discuss this issue further and share additional insights on how extending enhanced premium tax credits will sustain economic opportunity, job growth, and quality of life in Northern Virginia.

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