U.S. Markets open in 1 hr 49 mins

Buttigieg Would Hike Corporate Taxes to Pay for His Health Plan

The Fiscal Times Staff

Pete Buttigieg has proposed a “Medicare for all who want it” plan, which would allow Americans to buy into the Medicare system while leaving the private insurance system in place. This past weekend he said that funding for his roughly $1.5 trillion proposal would come from raising the top corporate tax rate from 21% to 35% – the same level it was before the Republican tax cuts were passed in 2017.

Speaking on NBC’s “Meet The Press,” Buttigieg said that “the vast majority” of the cost of his proposal could be paid for “by rolling back the corporate tax rate cut portion of the Trump tax cut,” a move that would raise $1.4 trillion, according to the non-partisan congressional Joint Committee on Taxation.

Buttigieg also wants to empower Medicare to negotiate drug prices and cap out-of-pocket costs, according to Bloomberg’s Sahil Kapur.


Like what you're reading? Sign up for our free newsletter.