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Biden Proposal Would Extend Medicare Solvency by 25 Years Through Tax Increase on High Earners

Biden Proposal Would Extend Medicare Solvency by 25 Years Through Tax Increase on High Earners
President Joe Biden speaks during an event to discuss Social Security and Medicare held at the University of Tampa in Tampa, Fla., on Feb. 9, 2023. Joe Raedle/Getty Images
Lawrence Wilson
Lawrence Wilson
3/7/2023|Updated: 3/8/2023
0:00

The Medicare Trust Fund will last 25 years longer with lower costs to beneficiaries if President Joe Biden’s proposed budget is adopted, the White House announced on March 7.

The statement came two days before the scheduled release of Biden’s full budget proposal and amidst a partisan debate over raising the nation’s debt ceiling, during which both sides have pledged to protect and strengthen Medicare, the popular health care program for retirees.

Lawrence Wilson
Lawrence Wilson
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Lawrence Wilson covers politics for The Epoch Times.
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Related Topics
Medicare
tax increases
US debt ceiling
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