An expansion of Medicare fell through, but a drug price reduction plan was added.
How it started: Mr. Biden, backed by prominent liberals like Sen. Bernie Sanders, the independent from Vermont, pushed to expand not only the scope of the Affordable Care Act, but also Medicare benefits to cover hearing, dentistry and vision.
How it shrunk: As lawmakers slashed a $3.5 trillion budget plan, the House agreed to spend $165 billion to cover the Medicare hearing, provide insurance to an additional four million people through Medicaid, and continue to lower health care premiums for people covered at through the Obamacare marketplace.
Where is he now: The expansion of Medicare was one of the items that was dropped in negotiations with Manchin. In a deal he struck late last month with Majority Leader Sen. Chuck Schumer, a New York Democrat, the bill includes a three-year extension of expanded Affordable Care Act subsidies. , which will expire at the end of the year, for an additional period of three years.
Democrats also added a plan aimed at lowering the cost of prescription drugs, fulfilling a long-standing goal of allowing Medicare to negotiate prescription drug prices directly. The legislation would also limit the out-of-pocket amount Medicare patients can be asked to pay for prescription drugs to $2,000 each year and restrict how much drug companies can raise Medicare prices.
Hundreds of billions in proposed tax increases were abandoned.
How it started: Democrats had envisioned a major effort to make the tax code fairer that would reverse the tax cuts Republicans pushed through in 2017, vastly increasing what the wealthiest individuals and corporations pay. The House legislation was projected to generate nearly $1.5 trillion over a decade by substantially increasing taxes on corporations and high earners.
How it shrunk: Ms. Sinema opposed raising most tax rates and supported other tax increase ideas that met with some pushback. She insisted on dropping a proposal aimed at cutting a tax break for hedge funds and private equity managers that Manchin had pushed to include in the plan, which would have raised about $14 billion.
Where is he now: To counter Ms. Sinema’s opposition to tax rate increases, Democrats included a more complicated 15 percent minimum tax on corporations. They also agreed to a 1 percent increase in the company’s share buyback, to take effect in 2023. And in a bid to crack down on wealthy tax evaders, Democrats plan to invest $80 billion in the Service’s enforcement. of Internal Taxes.