So where will the extra $16 trillion come from to pay for Sanders' plan?

[lapucelle]

26. HR 676 has funding details built into the legislation.

That's why medicare for all advocates have been pushing for this bill for 15 years.

Subtitle B–Funding

SEC. 211. OVERVIEW: FUNDING THE MEDICARE FOR ALL PROGRAM.

(a) In General- The Medicare for All Program is to be funded as provided in subsection (c)(1).
(b) Medicare for All Trust Fund- There shall be established a Medicare for All Trust Fund in which funds provided under this section are deposited and from which expenditures under this Act are made.

(c) Funding-
(1) IN GENERAL- There are appropriated to the Medicare for All Trust Fund amounts sufficient to carry out this Act from the following sources:
[NOTE: the following part of H.R. 676 describes only one idea for the funding. After sufficient support is established in the U.S. House of Representatives, many funding options will likely be debated. It will be important for some citizens to monitor the progress and give input at that time. In the meantime, any ideas or wishes you have for funding should be sent by letter in the U.S. Mail to your U.S. Representative and U.S. Senators.]
(A) Existing sources of Federal government revenues for health care.
(B) Increasing personal income taxes on the top 5 percent income earners.
(to do: need to communicate what level of income this means)
(C) Instituting a modest and progressive excise tax on payroll and self-employment income.
[Current Medicare tax: 1.45% paid by employers and employees.]
(D) Instituting a modest tax on unearned income.
[This is an additional source of funding … added to the H.R. 676 that was proposed in the previous session of Congress. The expected percentage is not yet available. H.R. 676 will not be given an economic evaluation by the Congressional Budget Office until it gets to at least 100 cosponsors<.]
(E) Instituting a small tax on stock and bond transactions.
(2) SYSTEM SAVINGS AS A SOURCE OF FINANCING- Funding otherwise required for the Program is reduced as a result of–
(A) vastly reducing paperwork
[Elimination of unnecessary administrative activities within all of our health care bureaucracy]
[for-profit bureaucracy]
[government bureaucracy]
[supporting bureaucracy that results from the other two types of bureauracracy and the overall negative situation that they cause]
[ Go to Costs and Savings for more information.]

(B) requiring a rational bulk procurement of medications under section 205(a).
(C) improved access to preventive health care.
(3) ADDITIONAL ANNUAL APPROPRIATIONS TO MEDICARE FOR ALL PROGRAM- Additional sums are authorized to be appropriated annually as needed to maintain maximum quality, efficiency, and access under the Program.


* SEC. 212. APPROPRIATIONS FOR EXISTING PROGRAMS.

Notwithstanding any other provision of law, there are hereby transferred and appropriated to carry out this Act, amounts from the Treasury equivalent to the amounts the Secretary estimates would have been appropriated and expended for Federal public health care programs, including funds that would have been appropriated under the Medicare program under title XVIII of the Social Security Act, under the Medicaid program under title XIX of such Act, and under the Children’s Health Insurance Program under title XXI of such Act. »[The cost for most Americans will be primarily or only the tax on payroll (employee and employer) or self-employment income. The savings from not having to pay for-profit health insurance premiums will be dramatically more than the increased payroll cost, as seen at the Costs and Savings web page.]

NO SENATE VERSION OF THIS BILL EXISTS. We need a senator to step up and write and introduce a Senate version of this bill.

http://www.medicareforall.org/pages/HR676