President Biden’s latest budget proposal includes trillions of dollars of new revenue that would be paid by the richest Americans, both directly through increases in personal income, Medicare and estate taxes, and indirectly through increases in corporate income taxes.
report March 10, 2023
Revenue-Raising Proposals in President Biden’s Fiscal Year 2024 Budget Plan
blog March 8, 2023
President’s Budget Would Strengthen Medicare Taxes Paid by the Wealthy
As part of his new budget plan, President Biden is asking the richest Americans to pay a little bit more to strengthen Medicare. The proposal includes raising taxes related to Medicare very slightly for the highest earners and closing a loophole that some wealthy individuals use to avoid Medicare taxes altogether.