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Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

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Senator Bernie Sanders speaks at a news conference on Capitol Hill in Washington unveiling "Medicare for All." Photo: Andrew Harnik / AP

Sen. Bernie Sanders introduced his "Medicare for All" bill Wednesday afternoon, alongside a group of 16 cosponsors that includes some of the party's leading contenders for 2020.

The biggest obstacle facing Sanders' proposal is that it would be a big revenue suck. Sanders suggested that "there needs to be vigorous debate" about how to raise revenue to back it, "unlike the Republican leadership in Congress which held no hearings on their disastrous bill" that didn't pass through Congress.

Here's how he might pay for it:

  • A 7.5% income-based premium paid by employers, which his paper claims will raise $3.9 trillion over 10 years. This would exempt certain small businesses.
  • 4% income-based premium paid by households, which his paper claims will raise $4.2 trillion over 10 years. This would not affect low-income families.
  • Savings from health tax expenditures, which his paper claims will raise $4.2 trillion over 10 years.
  • Make the personal income tax and the estate tax more progressive, including limiting deductions for the wealthy. His paper claims this will raise $1.8 trillion and $249 billion over 10 years, respectively.
  • "Establish a Wealth Tax on the Top 0.1 percent," which his paper claims will raise $1.3 trillion over 10 years.
  • Add a fee on large financial institutions, which his paper claims will raise $117 billion over 10 years.

There are a couple other proposals listed in the paper, which is worth a look over, here.The main idea behind "Medicare for All": Americans, no matter whether they come from red states or blue states, should have healthcare and shouldn't go broke trying to get it.

Go deeper

UN poll: Most see climate change as global emergency amid pandemic

Swedish climate activist Greta Thunberg (C) fronts a Fridays For Future protest at the Swedish Parliament in Stockholm in September. Photo: Jonathan Nacksrtrand/AFP via Getty Images

64% of people from around the world say climate change is a global emergency, a United Nations poll published Wednesday finds.

Why it matters: It's biggest global survey on climate change ever conducted, with some 1.2 million participants from 50 countries — including the U.S. where 65% of those surveyed view climate change as an emergency.

Collins helps contractor before pro-Susan PAC gets donation

Sen. Susan Collins during her reelection campaign. Photo: Scott Eisen/Getty Images

A PAC backing Sen. Susan Collins in her high-stakes reelection campaign received $150,000 from an entity linked to the wife of a defense contractor whose firm Collins helped land a federal contract, new public records show.

Why it matters: The executive, Martin Kao of Honolulu, leaned heavily on his political connections to boost his business, federal prosecutors say in an ongoing criminal case against him. The donation linked to Kao was veiled until last week.

How cutting GOP corporate cash could backfire

Illustration: Aïda Amer/Axios

Companies pulling back on political donations, particularly to members of Congress who voted against certifying President Biden's election win, could inadvertently push Republicans to embrace their party's rightward fringe.

Why it matters: Scores of corporate PACs have paused, scaled back or entirely abandoned their political giving programs. While designed to distance those companies from events that coincided with this month's deadly siege on the U.S. Capitol, research suggests the moves could actually empower the far-right.

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