 Health Care |
Health Care |
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Federal budget drama heats up with Biden's proposal to save Medicare
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The administration kicked the fight over the federal budget up another notch this week with a suggested tax hike on wealthier Americans to keep Medicare solvent. |
© Annabelle Gordon, The Hill |
On Tuesday, the White House unveiled its plan to increase the Medicare net investment income tax on people earning over $400,000 from 3.8 to 5 percent.
The plan would also expand on the new rules in the Inflation Reduction Act allowing Medicare to negotiate the cost of prescription drugs.
The cost of health care is skyrocketing and Medicare is spending money much faster than anticipated, fueling concerns that without intervention, the federal program could become insolvent quickly. "This modest increase in Medicare contributions from those with the highest incomes will help keep the Medicare program strong for decades to come. My budget will make sure the money goes directly into the Medicare trust fund, protecting taxpayers' investment and the future of the program," Biden said in an op-ed for The New York Times. Biden is set to release his full 2024 fiscal year budget Thursday. The president's budget is always an aspirational document, existing mainly for messaging. This year, Biden has been ramping up his attacks on Republicans, seeking to highlight the idea of GOP support for cutting entitlement programs ahead of a likely 2024 reelection bid. Congress holds the power of the purse, and Republicans — and even some conservative Democrats — are likely to reject any tax increases. To date, House Republicans have not come out with their own plan, though it's widely expected to slash federal spending on health care and other programs in an effort to balance the budget. Senate Minority Leader Mitch McConnell (R-Ky.) stated Biden's measure "will not see the light of day" thanks to the GOP-controlled House. But passing his own budget isn't really the point. Biden's goal is to create as much political daylight as possible between himself and Republicans. |
Welcome to The Hill's Health Care newsletter, we're Nathaniel Weixel and Joseph Choi — every week we follow the latest moves on how Washington impacts your health. |
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How policy will be impacting the health care sector this week and beyond: |
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House Republicans aggressively focused on the theory that COVID-19 likely originated from a research lab in China during Wednesday's initial hearing of the e panel investigating the pandemic's origins. Witnesses for the majority, including former director of the Centers for Disease Control and Prevention (CDC) Robert Redfield, said they think the evidence strongly supports a lab leak, but it’s not definitive. "Based on … |
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| A British author and former science editor of The New York Times was the subject of Democratic ire Wednesday when he testified during a congressional hearing on the origins of COVID-19. Nicholas Wade, who said he believes the virus originated in a research lab in Wuhan, China, came under fire by Democrats on the House coronavirus subcommittee for a controversial book he authored in 2014 that has been endorsed by white supremacists. … |
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COVID-19 patients who took the diabetes drug metformin for two weeks after a diagnosis were less likely to develop long COVID-19 symptoms, according to results from a clinical trial. The trial enrolled about a thousand participants who were symptomatic with a COVID-19 infection for less than a week. Participants were randomly selected to receive a placebo or one of three drugs: metformin, ivermectin or fluvoxamine. About 6 … |
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Prescription for Change: Improving Competition to Lower Drug Prices — Thursday, March 9 | 10 a.m. ET / 7 a.m. PT Rising prescription drug prices are a major concern for many Americans. One in four patients in the U.S. face financial challenges affording their medications. The Hill will bring together policymakers and leaders from across the health care ecosystem to discuss strategies for increasing biosimilar competition to lower drug prices and create a more affordable system for consumers. Sen. Tina Smith (D-Minn.), member of the Senate HELP Committee, and Rep. David Schweikert (R-Ariz.), member of the House Ways And Means Committee, join among others. RSVP now |
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Branch out with a different read from The Hill: |
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Over 280 sickened on Princess cruise ship; company points to 'likely' cause |
A cruise ship that recently returned to Galveston, Texas, is at the center of an investigation after over 280 people were sickened on a recent voyage, the Centers for Disease Control and Prevention said. | |
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Local and state headlines on health care: |
- Texas judge's ruling on birth control threatens a nationwide program for minors (PBS NewsHour)
- NC governor heralds progress toward broader health coverage in state of the state (North Carolina Health News)
- Rokita sends questions about gender-affirming care to Indiana health providers (WTHR)
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Health news we've flagged from other outlets: |
- Preterm Birth Drug Withdrawn After 12 Years (The New York Times)
- Many former prisoners struggle to obtain health care after release (CBS News)
- Medicare chief on the new drug price negotiation program's operations, hiring, and timelines (Stat)
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Most read stories on The Hill right now: |
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Rep. Marjorie Taylor Greene (R-Ga.) is working with House Oversight Committee Chair James Comer (R-Ky.) to schedule a trip for members of Congress … Read more |
| Teamsters President Sean O’Brien got into a heated argument with Sen. Markwayne Mullin (R-Okla.) during a Wednesday Senate Health, Education, … Read more |
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Opinions related to health submitted to The Hill: |
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You're all caught up. See you tomorrow! |
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