The Social Security and Medicare Fair Share Act proposes targeting payroll tax loopholes for high-income earners.

The proposal threatens states’ ability to fund state supplemental payment programs for Medicaid, which providers rely on as a boost for revenues.

The administration wants to restrict what it calls a "loophole" in its process for approving tax waivers for states' Medicaid payments.

The tax plan is touching off the biggest political debate over taxes, spending and the nation’s priorities in nearly a decade.

The Trump administration issued a proposal Monday that would tighten regulations that govern supplemental income streams that states use to finance their Medicaid programs.

The Congressional Budget Office estimates the cuts will lead to 8.6 million people losing coverage over the next decade.

The current version of the proposal calls for the state and local tax deduction cap to be hiked to $30,000, which a group of blue-state Republicans have said is a nonstarter.

President Donald Trump is expected to sign an executive order soon to lower the cost of prescription drugs for Medicare beneficiaries. The order would implement a “most favored nation” policy, tying the prices of certain Medicare-covered drugs to those paid by other developed countries.

President Trump will introduce a "most favored nation" plan aimed at cutting Medicare drug prices by linking them to the prices of medication abroad, sources told CBS News.

Legislation introduced by House Republicans late Sunday would slash Medicaid spending significantly by imposing new restrictions on Medicaid beneficiaries such as work requirements and more

A tax maneuver has been described by officials as a legal workaround used by states to secure inflated Medicaid funds.