“President Biden’s coming budget blueprint will propose extending the solvency of a key Medicare trust fund by at least 25 years, according to the White House, in part by increasing tax rates on people earning more than $400,000 a year,” the Wall Street Journal reports.
“The plan would raise Medicare taxes to 5% from 3.8% for those top earners and effectively expand the reach of the tax so it applies to business income as well as investments, wages and self-employment income.”
Biden explains the plan in a New York Times op-ed.
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