WASHINGTON — Senate Republicans plan to vote this week on a likely futile plan to counter Democrats’ push to extend expiring Obamacare subsidies as health care costs for more than 20 million people are set to spike on Jan. 1.

Neither the Republican legislation announced Tuesday nor Democrats’ proposed three-year extension are expected to get the 60 votes needed for Senate passage. For some Americans, health insurance premiums will double or triple in the new year as the COVID-era tax credits expire.

Senate Majority Leader John Thune promised Democrats a vote to extend enhanced Obamacare premium tax credits, in exchange for reopening the government last month. Republicans have grown increasingly antsy as they face the prospect of voting against Democrats’ three-year extension without an alternative of their own to support instead.

The proposal, crafted by Republican Senators Bill Cassidy of Louisiana and Mike Crapo of Idaho, would offer people in some Affordable Care Act health plans up to $1,500 each of the next two years in tax-advantaged health savings accounts. It also would fund cost-sharing reduction payments. However, the package also includes restrictions related to immigration, abortion and gender transition services that could ruin the chances of Democratic support.

“We will see where the Democrats will come down on this,” Thune said.

Senate Democratic leader Chuck Schumer blasted the Republican proposal as “phony” and “dead on arrival.”

“Their bill is junk insurance,” he added.

President Donald Trump told reporters on Tuesday that he liked “the concept” of the legislation, but sidestepped when asked explicitly if he believed fellow Republicans should vote for the bill.

“I love the idea of money going directly to the people, not to the insurance companies, going directly to the people,” Trump said. “It could be in the health settings account. It could be a number of different ways.”

Without major concessions to Democrats, the GOP plan is unlikely to become law.

A leaked plan from the White House last month would have extended and modified the current Obamacare tax credits for two years and allowed for an HSA option, but conservative Republican lawmakers quickly shot down the trial balloon.

House Speaker Mike Johnson said he plans to unveil a health care package this week that would address rising costs. Johnson and other House GOP leaders have emphasized that their health care plan wouldn’t subsidize Obamacare premiums and instead target the underlying cost of health care.

Moderates in both parties in the House are also working to build consensus around a short-term extension of the enhanced premium tax credits, with new restrictions.

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(With assistance from Rachel Cohrs Zhang and Derek Wallbank.)

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