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John,
We have a chance to strengthen Medicare while closing two tax loopholes exploited by wealthy business owners, adding 12 years to the Medicare Trust Fund so that it can pay full benefits![1]
Rep. Lloyd Doggett, top Democrat on the Health Subcommittee, has introduced the Assuring Medicare’s Promise Act (H.R. 34), which would add $650 billion to the Medicare Trust Fund with the tax revenue coming from wealthy business owners.
Click here to tell your U.S. representative to cosponsor and pass the Assuring Medicare’s Promise Act to strengthen Medicare, paid for by closing tax loopholes abused by wealthy business owners.
Together, we’re fighting back against attempts by congressional Republicans to cut Medicare with proposals that will guarantee that 65 million older and disabled Americans will get full benefits for years to come.[2]
Thank you,
Sarah Christopherson
Legislative and Policy Director
Americans for Tax Fairness
[1] “Preserving the Promise of Medicare,” U.S. Representative Lloyd Doggett, Jul. 11, 2022
[2] “CMS Releases Latest Enrollment Figures for Medicare, Medicaid, and Children’s Health Insurance Program (CHIP),” Medicaid.gov, Sep. 29, 2022
-- Frank's email --
John,
As congressional Republicans work to make devastating cuts to Medicare, we’re fighting for changes that strengthen Medicare by making the wealthy pay more of their fair share.[1]
Rep. Lloyd Doggett, the top Democrat on the Subcommittee on Health, recently introduced the Assuring Medicare’s Promise Act (H.R. 34) that would close two egregious tax loopholes exploited by wealthy business owners and direct that revenue into the Medicare Trust Fund to fully fund the program for an additional 12 years.[2]
Click here to send a message to your U.S. representative to cosponsor and pass the Assuring Medicare’s Promise Act, which strengthens Medicare while making the richest 1% pay more of their fair share.
Rep. Doggett’s new bill would raise roughly $250 billion from wealthy business owners who make more than $400,000 a year and dodge the 3.8% Net Investment Income Tax (NIIT), which generally applies to passive income like capital gains and dividends, and the Self-Employment Contribution Act (SECA) tax, which is paid by wealthy business owners on the wages they pay themselves.
Over 88% of the NIIT would be paid by the highest-income 1%―those making over $885,000 a year. And over half of the tax would come from the highest-income 0.1%―business owners bringing in over $4 million annually.[3]
Click here to write to your U.S. representative and urge them to strengthen Medicare, paid for by making wealthy business owners pay more of their fair share.
The remaining $400 billion boost to Medicare would come from fixing a legislative flaw that currently prevents revenue already raised from the NIIT and SECA from going into the Medicare Trust Fund, which was Congress’ original intent.
Together, we’re fighting to strengthen Medicare for years to come by making the richest 1% pay their fair share.
Thank you,
Frank Clemente
Executive Director
Americans for Tax Fairness Action Fund
[1] “House GOP eyes Social Security, Medicare amid spending battle,” The Washington Post, Jan. 24, 2023
[2] “Preserving the Promise of Medicare,” U.S. Representative Lloyd Doggett, July 11, 2022
[3] Americans for Tax Fairness Letter to Congress Supporting Doggett Bill Extending Medicare Trust Fund by Taxing the Wealthy, Feb. 14, 2023
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