This week, the Sanders campaign outlined a budgetto fund his policy plans.
Heres a quick rundown of what Sanders wants to do, along with how hell pay for it.
Cancel $1.6 trillion in outstanding student debt.
Cap student loan interest rates going forward at 1.88%.
Cap individual prescription drug spending at $200 per year.
What it would cost:$47.5 trillion.
How hell pay for it:
There are several options outlined for raising that revenue.
Raising the top marginal income tax rate to 52% on income over $10 million.
Expand benefits, including a $1,300 per-year increase for seniors living on $16,000 or less.
(Right now, theres an income cap of about $138,000.
Under Sanders plan, earned income between that and $250,000 would be exempt.)
Implement the Green New Deal
Move the energy system away from fossil fuel toward renewable energy.
Create 20 million energy jobs.
What it would cost:$16.3 trillion
$3.085 trillion: Eliminate subsidies for the fossil fuel industry.
$1.215 trillion: Reduce defense spending.
$2.3 trillion: Collect income tax from those 20 million new jobs.
$1.31 trillion: Save on federal and state government assistance spending because of all the new jobs.
$2 trillion: Collect taxes from large corporations.
The extreme wealth tax would raise $4.35 trillion over 10 years, according to the campaign.
Implement a national rent control standard.
Eliminate waitlists for section-8 housing vouchers.
Repair existing and build new public housing.
What it will cost:$2.5 trillion over 10 years
Medical debt
Cancel past-due medical debt.
Eliminate means testing requirements to file for bankruptcy and make it easier to discharge medical debt in bankruptcy.
Remove medical debt from credit reports.
Set minimum wages for childcare workers.
Provide free full-day pre-kindergarten starting at age 3.
