Yes, Biden signed the Inflation Reduction Act, which did eliminate the 400% "cliff" through tax (calendar) year 2025. Here is a writeup of the issue:
Eliminating The Subsidy Cliff
ARPA expanded the availability of premium tax credits (PTCs) to millions more people by eliminating the Affordable Care Act’s (ACA’s) subsidy cliff at 400 percent FPL (about $52,000 for an individual or $106,000 for a family of four). Individuals and families above this income level were not previously eligible for PTCs, leaving many middle-income people—especially those who are older and live in rural areas—with extraordinarily high premiums.
Under ARPA, those whose income exceeds 400 percent FPL are eligible for PTCs if the cost of premiums exceeds 8.5 percent of their household income. This provision does not subsidize the richest people, whose premium burden generally does not exceed this threshold. This part of ARPA has had a significant impact: marketplace enrollment by middle-income consumers increased by 4 percentage points from 2021 to 2022, rising to a total of 1.1 million people. By extending this policy through the end of 2025, the IRA will ensure that middle-income people who purchase their own health insurance do not pay more than 8.5 percent of their income towards premiums alone.
