Podcast Summary: WSJ What’s News
Episode: What’s Next in the Fight Over Healthcare Subsidies
Date: December 22, 2025
Host: Daniel Bock (Wall Street Journal)
Guest: Sabrina Siddiqui (WSJ, National Politics Reporter), Ben Fritz (WSJ, Entertainment Reporter)
Overview / Main Theme
This episode explores the looming debate in Congress over the future of health care subsidies under the Affordable Care Act (ACA), with millions of Americans' coverage costs hanging in the balance as lawmakers head home for the holidays without a resolution. The discussion highlights the real-world impact of expiring enhanced subsidies, the political stakes for both parties (especially Republicans), and the uncertainty created by former President Trump's lack of a clear stance. Other featured news includes U.S. moves against Venezuela, changes at General Motors, Federal Reserve insights, and a box office update on Disney’s “Avatar: Fire and Ash.”
Key Discussion Points & Insights
1. Expiring ACA Subsidies: What’s at Stake?
- Enrollment Deadlines & Confusion
- The key signup deadline for ACA coverage through the federal marketplace and most state exchanges passed on December 15, but enrollment remains open until January 15, with some risk of coverage lapses depending on signup date.
- Sabrina Siddiqui notes: "Most people did sign up for plans in 2026, but a lot of them did not know what those plans are actually going to cost because we still don't know what the fate of these enhanced subsidies will be." [07:18]
- The key signup deadline for ACA coverage through the federal marketplace and most state exchanges passed on December 15, but enrollment remains open until January 15, with some risk of coverage lapses depending on signup date.
- Direct Impact on Americans
- Enhanced subsidies implemented during the pandemic made ACA plans much more affordable; their expiration would cause premiums to skyrocket for millions, especially those not qualifying for employer coverage.
- Case example: In Mississippi, a woman's premium would rise from $126 to about $600 a month if the subsidies expire, making insurance unaffordable for her despite recent medical needs. [08:21]
- Sabrina Siddiqui: "For people who receive the enhanced subsidies, the monthly premiums on average are expected to more than double." [09:22]
- Enhanced subsidies implemented during the pandemic made ACA plans much more affordable; their expiration would cause premiums to skyrocket for millions, especially those not qualifying for employer coverage.
2. Political Stakes Heading into 2026
- Tension for Moderate Republicans
- Moderate Republicans and those in swing districts are especially concerned, as failure to extend subsidies risks voter backlash.
- Sabrina Siddiqui: "This election has already been framed around affordability. And so their argument is that if people's healthcare costs go up, Republicans are more likely to bear the blame." [10:23]
- Polling from nonprofit KFF suggests ACA enrollees are more likely to blame Republicans (and Trump) than Democrats if subsidies expire.
- Moderate Republicans and those in swing districts are especially concerned, as failure to extend subsidies risks voter backlash.
- President Trump’s Pivotal Role
- Trump has sent mixed signals and hasn't definitively taken a position, creating uncertainty for Congressional Republicans.
- Sabrina Siddiqui: "The big unknown here is President Trump because he has not publicly waded into this debate in a meaningful way." [11:19]
- If Trump comes out in favor of extending the subsidies, it could quickly shift the legislative landscape.
- Trump has sent mixed signals and hasn't definitively taken a position, creating uncertainty for Congressional Republicans.
3. Congressional Outlook in 2025
- Lawmakers will need to address the subsidies immediately after returning from holiday recess amid heightened scrutiny and mounting pressure from both constituents and advocacy groups.
Other News Highlights
U.S. Policy Moves
- Venezuela Oil Sanctions
- U.S. Coast Guard seized a second tanker for violating Venezuela oil sanctions.
- White House: Ship was part of "Venezuelan shadow fleet." [00:42]
- U.S. Coast Guard seized a second tanker for violating Venezuela oil sanctions.
- Justice Department
- DOJ temporarily removed some Jeffrey Epstein files from public release to address victim privacy complaints. [01:50]
Political Developments
- Turning Point USA & 2028 Race
- Vice President J.D. Vance is being backed by the late Charlie Kirk’s organization as a potential GOP 2028 candidate.
- Kirk’s widow has endorsed Vance and ground operations are starting. [02:50]
- Vice President J.D. Vance is being backed by the late Charlie Kirk’s organization as a potential GOP 2028 candidate.
The Fed’s Rate Path
- Interview with Beth Hammack (Cleveland Fed President)
- She advocates for holding rates steady for several months to gauge the impact of earlier cuts.
- Beth Hammack: "I think by springtime... if it really is a one time price level shift, we should start seeing inflation coming back down again around that time towards the end of the first quarter." [04:53]
- Divisions remain over the future direction of interest rates.
- She advocates for holding rates steady for several months to gauge the impact of earlier cuts.
Corporate Moves
- General Motors CEO Search
- Sterling Anderson, a robotics/EV veteran, is being discussed as a successor to CEO Mary Barra, sparking speculation in the automotive industry. [05:45]
Box Office Update
- Avatar: Fire and Ash Launches
- Opened to $345 million worldwide—second biggest of the year, but below the last installment.
- Ben Fritz: "It's been a very mixed year at the box office so far. In 2025, the total numbers are basically flat, with 2024 up just a bit, but still well below where we were in 2019." [12:27]
- Hollywood’s recovery from the pandemic is uneven.
- Opened to $345 million worldwide—second biggest of the year, but below the last installment.
Notable Quotes & Memorable Moments
- "There may still be this risk of a lapse in coverage." – Sabrina Siddiqui [07:35]
- "If the enhanced subsidies expire, [her] monthly premium will jump from $126 a month to about $600 a month, and she simply can't afford that." – Sabrina Siddiqui sharing a constituent story [08:35]
- "Most Americans support extending the subsidies." – Sabrina Siddiqui, referencing polling [10:51]
- "The big unknown here is President Trump because he has not publicly waded into this debate in a meaningful way." – Sabrina Siddiqui [11:19]
- "The bar for success [on Avatar] is especially high due to the size of its production costs." – Daniel Bock [13:01]
Important Segment Timestamps
- Healthcare Subsidies Segment Begins: [06:57]
- Sabrina Siddiqui on Enrollment Deadlines: [07:18]
- Cost Spike Example - Mississippi Worker: [08:21]
- Political Calculus and Moderate GOP Concerns: [09:52]
- Trump’s Role and Uncertainty: [11:19]
- Entertainment News Box Office/Avatar: [11:58]
Tone & Style
- The conversation is measured, journalistic, and fact-driven, with Sabrina Siddiqui providing detailed, real-world insights and data, and Daniel Bock guiding the discussion with concise questions.
This episode is essential listening for anyone impacted by ACA coverage or following U.S. health care and political dynamics heading into a pivotal election year.