The Congressional Research Service issued the following report (No. R44425) on
April 26, 2021, entitled Health Insurance Premium Tax Credit and Cost-Sharing Reductions by health care financing specialist
Bernadette Fernandez:
Summary
Certain individuals without access to subsidized health insurance coverage may be eligible for the premium tax credit (PTC) established under the Patient Protection and Affordable Care Act (ACA; P.L. 111-148, as amended) and amended under the American Rescue Plan Act of 2021 (ARPA, P.L. 117-2) to include several temporary provisions. The dollar amount of the PTC varies from individual to individual, based on a formula specified in statute. Individuals who are eligible for the PTC may be required to contribute some amount toward the purchase of health insurance.
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During the first quarter of 2021, various federal bills were introduced which impact the food industry. This article provides a primer on some of these bills and their potential impact on the food industry.
The Food Allergy Safety, Treatment, Education and Research (FASTER) Act (S.578), introduced by Senator Tim Scott on March 3, 2021, later passed by both the Senate and House of Representatives, and signed into law by President Biden on April 26, 2021:
The FASTER Act requires companies to declare the presence of sesame on food packaging labels by January 1, 2023 and was introduced and passed to address the needs of the over 1.5 million Americans who are allergic to sesame. As a result of the FASTER Act, food products containing sesame will need to be labeled as such in “plain language.”
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