Today news
About the same in other media
Biden’s Plan to Avert Medicare Funding Crisis Includes Tax Hikes on High Earners
Reading now: 938
WASHINGTON—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 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. Mr. Biden would also redirect some existing taxes from the government’s general fund to a Medicare fund. The Medicare program provides health insurance for adults 65 and older, as well as some younger people with disabilities.
Read more on wsj.comAbout this in other media
Biden Asks Congress for More Authority to Punish Bank Executives wsj.com /1 year ago
Biden Asks Congress for More Authority to Punish Bank Executives wsj.com /1 year ago
Jeffrey Gundlach says Fed will hike funds rate next week to save credibility — but shouldn't cnbc.com /1 year ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
