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George Washington dollar bill with collage of falling stock chart on it An ACA premium tax credit subsidy is supposed to hold what a consumer pays in cash for health coverage to a certain percentage of the consumer’s “modified adjusted gross income,” or MAGI. (Photo: Shutterstock)

President Joe Biden has proposed a budget for fiscal year 2022 that could make the current, temporary increase in health insurance premium tax credit subsidies permanent.

The proposal could also increase the amount of tax revenue flowing into the main Medicare trust fund, by applying the net investment income tax or the self-employment tax to more of high-income taxpayers’ income, and by sending the revenue from the net investment income tax into the main Medicare trust fund.

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