Opinion | Joe Biden: My Plan to Extend Medicare for Another Generation - The New York Times

…So first, let's expand on that progress. My budget will build on drug price reforms by strengthening Medicare's newly established negotiation power, allowing Medicare to negotiate prices for more drugs and bringing drugs into negotiation sooner after they launch. That's another $200 billion in deficit reduction. We will then take those savings and put them directly into the Medicare trust fund. Lowering drug prices while extending Medicare's solvency sure makes a lot more sense than cutting benefits. 

Second, let's ask the wealthiest to pay just a little bit more of their fair share, to strengthen Medicare for everyone over the long term. My budget proposes to increase the Medicare tax rate on earned and unearned income above $400,000 to 5 percent from 3.8 percent. As I proposed in the past, my budget will also ensure that the tax that supports Medicare can't be avoided altogether. This modest increase in Medicare contributions from those with the highest incomes will help keep the Medicare program strong for decades to come. My budget will make sure the money goes directly into the Medicare trust fund, protecting taxpayers' investment and the future of the program...

https://www.nytimes.com/2023/03/07/opinion/joe-biden-medicare.html