Biden Could Raise Taxes on Those Earnings Above $400k to Cement Healthcare Spending

• "The White House on Tuesday will propose raising taxes on Americans earning more than $400,000 and reducing what Medicare pays for prescription drugs in an attempt to ensure that the health-care program for seniors is funded for the next two decades, challenging Republicans over an imminent funding crisis, according to a copy of the plan reviewed by The Washington Post."
• As forecasters warn that a key Medicare trust fund will run into major financial problems within five years, the administration will propose three key changes — including the tax hike and new rules to reduce prescription drug costs — to bolster the program for at least 25 years, the plan shows.

Full piece here: https://www.washingtonpost.com/us-policy/2023/03/0...