WASHINGTON — A new budget by a large and influential group of House Republicans calls for raising the Social Security retirement age for future retirees and restructuring Medicare. The proposals are unlikely to become law this year, but they reflect how many Republicans will seek to govern if they win the 2024 elections. And they play into a fight President Joe Biden is seeking to have with former President Donald Trump and the Republican Party as he runs for re-election.
' The new budget also calls for converting Medicare to a 'premium support model,' echoing a proposal that former Republican Speaker Paul Ryan had rallied support for. Under the new RSC plan, traditional Medicare would compete with private plans and beneficiaries would be given a subsidy to shop for a policy of their choice. The size of the subsidy could be pegged to the 'average premium' or 'second lowest price' in a particular market, the budget says.
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