True or false: Enhanced subsidies first appeared in the Inflation Reduction Act.

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False. The American Rescue Plan Act created enhanced subsidies in March 2021, more than a year before the Inflation Reduction Act. The American Rescue Plan lowered the premium cap to 8.5 percent of income and eliminated the 400 percent poverty level cutoff for two years (2021-2022). These enhancements responded to COVID-19 coverage losses and helped 2.9 million newly eligible people enroll in marketplace plans. The Inflation Reduction Act simply extended these existing enhancements for three more years (2023-2025) at a cost of 64 billion dollars.

True or false: Enhanced subsidies first appeared in the Inflation Reduction Act.

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