Democratic U.S. presidential candidate Elizabeth Warren proposed on Friday a $20...
NEW YORK/WASHINGTON - Democratic U.S. presidential candidate Elizabeth Warren proposed on Friday a $20.5 trillion Medicare for All plan that she said would not require raising middle-class taxes “one penny,” answering critics who had attacked her for failing to explain how she would pay for the sweeping healthcare overhaul.
Warren’s plan also calls for cuts in defense spending and passing immigration reform that would increase tax revenue from newly legal Americans, two steps that would face an uphill battle in Congress. The $20.5 trillion in new spending over 10 years would increase the entire federal budget by a third.
Medicare for All would replace private health insurance, including employer-sponsored plans, with full government-sponsored coverage, and individuals would no longer have to pay premiums, deductibles, co-pays or similar out-of-pocket costs. Long-term care would also be covered. At recent debates, Warren had refused to answer directly when asked whether she would raise middle-class taxes to cover the costs, even as Sanders acknowledged that he would, without providing details.
Medicare for All legislation stands little chance of passing the U.S. Congress even if Democrats succeed in taking control of both chambers as well as the presidency, given the skepticism among some moderate Democrats and the opposition of Republicans. Democrats control the House. Republicans control the Senate.
Warren released two letters supporting her calculations from several health policy and economic experts, including: Simon Johnson, the former chief economist for the International Monetary Fund; Donald Berwick, who ran Medicare and the Medicaid healthcare program for the poor in the Obama administration; and Mark Zandi, the chief economist at Moody’s Analytics.
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