|July 16, 2021
Federal Advocacy Update
Discussions in Washington D.C. continue surrounding a $3 to $4 trillion federal spending bill. The legislation being discussed includes an approximate $300 billion expansion of Medicare to cover dental, vision, and hearing care. Under the plan, these new benefits would be free for seniors in the program and could start as soon as next year. Also included in the current proposal being crafted is new spending for elder care, home care, childcare, prekindergarten, paid family and medical leave, housing programs, and other education and safety net programs. There may also be plan climate-related sections in a future bill.
Suggested way to pay for the infrastructure bill included tax hikes on upper income Americans and corporations, as well as IRS changes to ‘tax gaps.’ Other major new sources of revenue include raising the top marginal tax rate, increasing the corporate tax rate, and changes to the international tax system.< Previous Article | Next Article >
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