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Biden's tax-the-rich Medicare plan

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Mar 7, 2023

Illustration: Sarah Grillo/Axios

President Biden released a Medicare plan early Tuesday that he says would extend the program's solvency by 25 years — by taxing high-income people more and expanding the Democrats' prescription drug negotiation program.

Why it matters: It's a sneak peek at his fiscal 2024 budget plan before the rest comes out Thursday. And like most presidential budgets, you should read it for the clues about his positioning rather than preparing for it to sail through Congress.

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