Democrats Plan to Extend Medicare Solvency in New Biden Bill

Senate Democrats have reached a deal to extend the solvency of Medicare by closing a tax loophole frequently used by law firms and other partnerships, adding another leg to President Joe Biden’s revised economic agenda. 

The agreement by all 50 members of the Senate Democratic caucus to require so-called pass-through businesses to pay a 3.8% health surcharge on some income follows a separate deal announced on prescription drug pricing, announced Wednesday.