Wealth tax on billionaires to fund citizen rebates, healthcare, and education.
The bill introduces a 5% wealth tax on billionaires to fund direct cash rebates for citizens and significantly lower childcare costs. It also expands Medicare to cover dental, vision, and hearing care, while guaranteeing a $60,000 minimum starting salary for public school teachers.
Key points
A 5% annual tax on the net assets of individuals worth more than $1 billion.
Direct cash rebates of $3,000 per adult ($6,000 for married couples) and $3,000 per dependent.
Expansion of Medicare to cover dental exams, cleanings, dentures, hearing aids, and eyeglasses.
A cap on childcare costs at 7% of a family's income, making it completely free for lower-income families.
A guaranteed minimum starting salary of $60,000 per year for public school teachers.
Increased funding for home and community-based care for the elderly and disabled, including better pay for caregivers.
Status:
Introduced
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