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Young tells Budget Committee the president's plan protects benefits, asks wealthiest to pay more to shore up Medicare and Social Security
Summary
OMB Director Shalanda Young told the House Budget Committee the administration will not support benefit cuts and favors revenue increases targeted at the wealthiest plus drug negotiation savings to extend Medicare solvency and support Social Security. Republicans pressed that revenue proposals fall short of long‑term liabilities and asked for more detailed solvency plans.
OMB Director Shalanda Young told the House Budget Committee that extending Medicare and Social Security solvency without cutting benefits is a central aim of the president's FY2025 budget.
"He will not sign any legislation, and we will do anything, to prevent benefit cuts," Young told the committee when asked whether the administration would support reductions in guaranteed benefits. She said the administration proposes a mix of measures to shore up trust funds:…
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