Scott accuses Biden in an ad to air in Florida this Wednesday of cutting $280 billion Medicare The Inflation Reduction Act and attacking the GOP for claiming it wants to end Medicare. Social Security. Florida Senator was referring specifically to the Inflation Reduction Act, which would permit Medicare prices to be negotiated directly with manufacturers. This would result in savings of approximately $280 billion per year for the federal government. Without reducing program benefitsAccording to the Biden administration, it is.
Biden spent weeks accusing Republicans, including Biden, of trying to cut Social Security benefits and Medicare as part budget negotiations. Biden brought up these accusations again during his State of the Union address. “Some Republicans want Medicare and Social Security to sunset every five years.”
Scott was the one who made that comment. He released an 11-point agenda last January, proposing to end all federal laws after five year unless Congress extends them. Although the plan didn’t specifically mention Medicare or Social Security in it, Democrats used this language to attack Republicans during the midterm elections.
Scott also made new attacks on Biden in this ad. He accused the president of cheating his taxes.
“Biden improperly used a loophole to dodge $500,000 in taxes that should’ve gone to Medicare,” Scott It is stated in the advertisement. “Now that Biden has ripped off Medicare of $500,000, he wants to close the loophole and raise your taxes. … Biden should resign.”
Scott’s claims come after Biden released his tax returns during his 2020 presidential campaign, which showed Biden took advantage of a tax loophole in his 2017 and 2018 returns — a loophole that former President Barack Obama had sought to close during his administration. Biden used these loopholes to get an additional 3.8% off Medicare taxes. According to The Washington Post.
Biden has since sought to close this loophole, arguing it’s been used over the last century to save wealthy families billions of dollars in taxes — prompting Biden to nickname it the “trust fund loophole.”
Biden mentioned these loopholes during Tuesday’s State of the Union address. On Tuesday, he proposed a minimum tax on income for billionaires.
“Let’s finish the job and close the loopholes that allow the very wealthy to avoid paying their taxes,” Biden stated these words in prepared remarks. “I will not raise taxes on anyone making under $400,000 a year. And I will pay for the ideas I’ve talked about tonight by making the wealthy and big corporations begin to pay their fair share.”
Scott’s ad will begin airing in Florida ahead of Biden’s visit to the Sunshine State later this week.
" Conservative News Daily does not always share or support the views and opinions expressed here; they are just those of the writer."