President Biden’s proposed budget has caused controversy with the GOP and a new plan to tax the wealthy to help fund Medicare.
The $6.8 trillion budget includes deficit cuts and tax hikes, but Republicans have said they will not support the plan. Many of the proposed tax increases would be targeted towards the rich, including a new tax on those earning more than $400,000 per year.
In addition, the plan proposes using these funds to help save Medicare, a government-funded health insurance program for seniors. Biden has faced criticism from Republicans for the plan, with some arguing that it shows he wants war with the GOP despite a shaky economy.
One area of the budget that has received more bipartisan support is the new prescription drug price plan, which aims to lower costs for Americans. However, some have criticized the plan for only benefiting certain parties and not providing enough relief for the average person.
The debate over Biden’s budget is likely to continue in the coming weeks, as both sides of the aisle work to negotiate a plan that will benefit all Americans.