President Joe Biden has started to unveil parts of his budget proposal being released later this week
that he plans to release on Thursday in Philadelphia. Pushing the proposal through Congress will likely be difficult, with Republicans in control of the House and Democrats holding only a slim majority in the Senate.
Ahead of an expected budget feud and the 2024 campaign season, Democrats have ramped up talk around Medicare, vowing to fend off any Republican attempts to cut the program, although so far the GOP has vowed to avoid any cuts. Still, Republican lawmakers have reached little consensus on how to fulfill their promise to put the government on a path toward balancing the federal budget in the next 10 years.
Raising taxes on Americans who make more than $250,000 to pay for Medicare has broad support among older Americans, according to surveys conducted in recent years by the nonpartisan Senior Citizens League. Raising the eligibility age for Medicare, however, is widely unpopular, said Mary Johnson, a policy analyst for the organization.
Biden's plan is also intended to close what the White House describes as loopholes that allow people to avoid Medicare taxes on some income. Besides the taxes, Biden wants to expand Medicare's ability to negotiate drug costs, which began withThe White House said its budget plan would expand the pharmaceutical drug provisions of the Inflation Reduction Act.
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