On March 9th, President Biden revealed his 2024 budget which, among other things, seeks to extend Medicare by raising taxes on American citizens earning over $400,000 per year. The budget is $6.8 billion in total with $5 trillion in tax increases on high-income earners and corporations while attempting to reduce the federal deficit by around $3 trillion over the next 10 years.

 
According to the NAHB (National Association of Home Builders), there is virtually no chance that the budget will be passed by the House of Representatives as it is currently controlled by Republicans.

The NAHB does support Biden's decision to significantly expand the Low-Income Housing Tax Credit program but is less excited about things being eliminated such as Like Kind Exchanges and increasing the net Investment Income Tax. The budget would overall allocate $73.3 billion to the Department of Housing and Urban Development which is about $1 billion more than 2023.

The NAHB also stated, "It's important to note that no White House budget is ever approved "as is" by Congress. While the president's budget recommends spending levels for the next fiscal year, it is not legally binding. Congressional appropriators will have the final say in program realignment, and tax and spending levels."

https://www.nahb.org/blog/2023/03/biden-unveils-2024-budget-proposal