President Joe Biden pledged to safeguard Social Security and Medicare while increasing taxes on the rich. Also, he urged increased funding for law enforcement training programs.
He unveiled his budget proposal for the 2024 fiscal year at a union hall in Philadelphia, which would cut the national debt by almost $3 trillion.
Social Security, Medicare Payments
However, the Federal Revenue Agency (IRS) deducts from your Social Security and Medicare benefits an amount each and every year. Under the Federal Insurance Contributions Act, there are ways to determine how much money they take in (FICA).