President Joe Biden delivers the State of the Union address to a joint session of Congress at the U.S. Capitol, Tuesday, Feb. 7, 2023, in Washington. (AP Photo/Patrick Semansky)
President Joe Biden is proposing a plan to raise the Medicare tax on high-income Americans and push for additional drug price negotiations to fund the program through 2050.
The plan would raise the tax from 3.8 percent to 5 for those earning above $400,000 per year. The proposal is a bid to get Republicans on board with a 2024 budget bill.
"Millions of Americans have been working their whole lives, paying into Medicare with every working day, and want to know that they can count on Medicare to be there for them when they turn 65," the White House said in a statement. "The President’s Budget extends the life of the Medicare Trust Fund by at least 25 years. It achieves these gains with no benefit cuts—indeed, while lowering costs for Medicare beneficiaries.
The proposal also calls for closing loopholes in existing Medicare taxes and leveraging the Inflation Reduction Act (IRA) authority to negotiate prices for high-cost drugs.
The president is set to release his full budget plan on Thursday. Medicare and Social Security account one-third of federal spending, according to the Congressional Budget Office. Concerns about their future solvency are a perennial concern in Congress.
New Zealand acknowledged it has an aging Boeing 757 so prone to breakdowns they had sent an empty backup to ensure Prime Minister Chris Hipkins didn't get stranded in China, where he is leading a trade delegation.
Delaware state Sen. Sarah McBride announced Monday she's running for the U.S. House of Representatives. Already the first openly transgender state senator elected in the country, she'd be the first transgender member of Congress if she wins in November.
U.S. states could face some hurdles as they experiment with road usage charging programs aimed at one day replacing motor fuel taxes, which are generating less each year, in part due to fuel efficiency and the rise of electric cars.
The defiance of restrictions in North Dakota on what bathrooms transgender students can use in public schools and universities shows that it's not exactly clear how bathroom laws will play out in local communities after being enacted in at least 10 states with Republican-controlled legislatures.
The Supreme Court on Monday left in place an appellate ruling barring a North Carolina public charter school from requiring girls to wear skirts to school.
The U.S. Department of Transportation is awarding almost $1.7 billion in grants for buying zero- and low-emission buses, with the money going to transit projects in 46 states and territories.
Vice President Kamala Harris said Supreme Court conservatives caused a healthcare crisis in America and blasted abortion bans in Republican-led states.
