WARREN VOWS NO MIDDLE CLASS TAX HIKE FOR $20T HEALTH PLAN
WASHINGTON — Elizabeth Warren on Friday proposed $20 trillion in federal spending over the next decade to provide health care to every American without raising taxes on the middle class, a politically risky effort that pits the goal of universal coverage against skepticism of government-run health care.
The details of Warren’s “Medicare for All” plan aim to quell criticism that the Massachusetts Democrat and presidential candidate has been vague about how she would pay for her sweeping proposal.
However, her detailed proposal was quickly attacked by her moderate rivals, including former Vice President Joe Biden, whose campaign said it amounts to “mathematical gymnastics.” Some independent experts also questioned whether her numbers were realistic.
In a 20-page online post, Warren said a cornerstone of her plan would require employers to transfer to the government almost all the $8.8 trillion she estimates they would otherwise spend on private insurance for employees.
“We can generate almost half of what we need to cover Medicare for All just by asking employers to pay slightly less than what they are projected to pay today, and through existing taxes,” she wrote.
Campaigning in Iowa, Warren said Friday her plan was drafted with help from top health care experts and economists. “If Joe Biden doesn’t like that … I’m just not sure where he’s going,” she said.
Companies with fewer than 50 employees that don’t already sponsor coverage would be exempt from the proposal. And in a nod to unions whose support will be key in the Democratic primary, Warren said that employers already offering health benefits under collective bargaining agreements will be allowed to reduce how much they send to federal coffers — provided they pass those savings on to employees.
O’ROURKE ‘RELUCTANTLY’ ENDS PRESIDENTIAL RUN
WASHINGTON — Beto O’Rourke, the former Texas congressman, announced Friday that he was ending his Democratic presidential campaign, which failed to recapture the enthusiasm, interest and fundraising prowess of his 2018 Senate race. Addressing supporters in Iowa, O’Rourke said he made the decision “reluctantly” and vowed to stay active in the fight to defeat President Donald Trump. “I will be part of this and so will you,” he said.
O’Rourke, 47, was urged to run for president by many Democrats, including supporters of former President Barack Obama, who were energized by his narrow Senate loss last year in Texas, a reliably Republican state. He ultimately lost to incumbent Republican Sen. Ted Cruz by 3 percentage points.