In an effort to save Medicare, President Joe Biden has launched a new plan that would implement a 5% surtax for people who make more than $400,000 a year.
The proposal from the White House was placed in Biden’s budget plans and is supposed to be enough to extend Medicare for another quarter of a century. However, Republicans don’t seem to be on board, calling the proposal a “massive” tax hike, and some top Democrats have yet to comment on whether they support it.
The full budget from Biden is expected to be released on Thursday, but the Medicare tax could spark a massive battle between the parties, just like the Medicare taxes in the Affordable Care Act did in 2010.
Among those to criticize the tax are Senate Republican Leader Mitch McConnell (KY) and Sen. John Cornyn (R-TX), who said the president’s “answer to everything” is raising taxes.
“You know the president’s budget is replete with what they would do if they could — thank goodness the House is Republican — massive tax increases, more spending,” McConnell said.
McConnell continued saying that the tax increase won’t “see the light of day” and “the American people can thank the Republican House” for it.
Across the aisle, Democratic Sens. Joe Manchin (WV) and John Tester (MT) declined to comment when asked about it Tuesday, saying they didn’t have time to review the proposal.
“I haven’t heard anything about it. I haven’t heard a word about it,” Manchin said as he headed to the chamber to vote, The Hill reported.
Vermont Sen. Bernie Sanders (I) shared that he hasn’t fully seen the proposal but added that it’s a “step in the right direction” when he was asked about it on Tuesday. Other further left Democrats also shared their support.
“That is great. Americans are going to love to hear that,” Senate Majority Leader Chuck Schumer (D-NY) said.
Overall, the upcoming budget proposal is supposed to slash the deficit by almost $3 trillion over the next decade, The Associated Press reported.
“This is something we think is important,” White House press secretary Karine Jean-Pierre said while discussing the president’s plan. “This is something that shows the American people that we take this seriously.”
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