The White House’s proposal to extend Medicare’s solvency is likely to run into a barrage of Republican opposition and implementation issues, lawmakers and policy watchers say.
President Joe Biden announced Tuesday that his forthcoming budget request to Congress will include raising Medicare taxes from 3.8% to 5% on annual income above $400,000. He also wants to expand the number of drugs subject to Medicare’s new authority to negotiate prices under the Inflation Reduction Act (Public Law 117-169).
The proposal, which will be released Thursday, indicates that reducing US drug prices and health-care costs remains a large priority for the Biden ...