NEW: Amid questions and attacks from opponents, Elizabeth Warren releases plan to pay for Medicare for All proposal, with a promise not to raise middle class taxes by 'by one penny.'
After months of questions and attacks from opponents, 2020 candidate Elizabeth Warren released a plan on Friday that addressed funding for Medicare for All with a promise not to raise a single penny in middle class taxes, an attempt to plug a growing hole in her narrative as the candidate who has a plan for everything except for funding health care.
Warren’s plan pulls more than $20.5 trillion in funds for Medicare for All by calling for budget cuts and increased regulation across far-reaching corners of the U.S. economy. She proposes tightening up tax loopholes on the rich, taxing financial companies more, making money off of comprehensive immigration reform and cutting military spending.
This, Warren’s campaign estimated, would generate around $8.8 trillion over 10 years, or about half of her expected cost. Then, about 5% of the funds necessary in Warren’s plan would come from cutting defense spending and achieving immigration reform -- two revenue streams that would be contingent upon making their way through Congress. Immigration reform, in particular, has faced years of back-and-forth on Capitol Hill without much movement.
Warren first announced that she would be putting a plan out to specifically address those two questions about two weeks ago. She made the announcement on the heels of last month’s Democratic debate, when she was attacked by multiple candidates on stage for her ambiguity about being “with Bernie [Sen. Bernie Sanders]” on Medicare for All but not saying that taxes would go up, which is part of his plan.
The following day, former Vice President Joe Biden called Warren out for having a plan for everything but Medicare for All funding. Biden, like Buttigieg, has called his idea for health care reform “Medicare for all who want it.”
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