July 14,2022

Press Contact:

Ashley Schapitl

Wyden Statement on Tax Policy Center Analysis on Plan to Extend Medicare Solvency

Washington, D.C.—Senate Finance Committee Chair Ron Wyden, D-Ore., today released the following statement in response to a new Tax Policy Center analysis on who will pay to extend Medicare solvency:

“An important new analysis from the Tax Policy Center confirms that households making at least $1 million per year will contribute 85 percent of the revenue needed to extend Medicare solvency for three years. More than half of the revenue from closing this loophole is coming from those making $4 million per year. Extending Medicare solvency by three years by closing a loophole that allows mega-millionaires to restructure their income to avoid paying into Medicare is a win for seniors and tax fairness. Working people pay into Medicare with every paycheck. They know it’s a scam that law firm partners and the like are able to play games to avoid contributing to health care for seniors.”