The Trump administration is proposing to increase the number of Americans who would qualify for federal subsidies to $200,000 a year for a family of four to offset the cost of health insurance that was expanded under the Affordable Care Act.
The proposal, which would require the Congressional Budget Office to assess the impact of the changes, is expected to be introduced in a fiscal year 2017 budget resolution to be presented to Congress on Wednesday.
The White House did not immediately respond to a request for comment on the budget proposal.
The Congressional Budget Service estimates that the Senate proposal would reduce the cost for many people in the next year by $8,800.
The Trump plan is expected, in part, to address concerns that the bill could lead to higher premiums, particularly for those with preexisting conditions, who are disproportionately older and sicker than the population as a whole.
According to the CBO, a single adult with a household income of $50,000 would be able to get a $100 premium subsidy, while a family earning $80,000 could expect to pay an additional $1,100.
Those subsidies are set to drop by $200 for everyone, or about $9,000, for a four-person family.
The CBO also projects that premiums would rise for most people by $4,800 for the year.
The budget proposal also proposes raising the Medicare eligibility age from 65 to 67, and lowering the Medicare payroll tax.
The Medicare tax is set to rise by about 5 percent, or $1.6 trillion, under the proposal.
It would be the first tax increase under the president’s budget.
President Donald Trump said in a speech on Wednesday that he will unveil his 2017 budget proposal at the end of the month, but his proposed budget would not be released until early September.
“Our plan will be in the books in September, and I will be unveiling it in September,” he said.
“I will be releasing it in the middle of October.
This is the first time we’re going to be releasing a budget before the end, so it’s going to take a little bit of time to get through the process.”