Biden proposes tax hike on income over $400,000 to fund Medicare
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The president's proposal, which would also give the government new power to negotiate drug prices, would extend the solvency of the Medicare trust fund beyond 2050, the White House says.
President Joe Biden will propose hiking payroll taxes on Americans making over $400,000 per year and allowing the government new power to negotiate drug prices as part of an effort the White House says will extend the solvency of a key Medicare program for another quarter century.
“The budget I
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