Sen. Bernie Sanders, I-Vt., and Rep. Ro Khanna, D-Calif., introduced a bill that would use revenue from a wealth tax to reverse Medicaid cuts and expand dental coverage under Medicare.
Four notes:
1. The “Make Billionaires Pay Their Fair Share Act” would establish a 5% annual wealth tax on individuals with a net worth exceeding $1 billion, which would bring in an estimated $4.4 trillion over the next decade, according to a March 2 news release.
2. The bill would fund several initiatives, including direct payments to households earning $150,000 or less, building affordable housing, a new child care program, and establishing a minimum salary of $60,000 for public school teachers.
3. Additionally, the bill would direct revenue to reverse cuts under Medicaid and the Affordable Care Act that were enacted last year as part of President Donald Trump’s One Big Beautiful Bill Act.
4. The bill would also use revenue to expand Medicaid home healthcare for seniors and people with disabilities and expand coverage for dental, vision and hearing services under Medicare.
Read the full bill text here.
