Sponsors (2)
Introduced March 2, 2026 by Bernard Sanders · Last progress March 2, 2026
The bill expands benefits and subsidies across taxes, health, housing, child care, education, and long‑term care—delivering sizable direct relief and investments for many Americans while substantially increasing federal spending and administrative requirements that could strain state budgets, the IRS, and provider networks unless offsets and implementation capacity are secured.
Most taxpayers and households: recurring direct payments of $3,000 per filer ($6,000 joint) plus $3,000 per dependent beginning 2026 increase household cash flow and provide predictable, ongoing relief.
Low- and moderate-income consumers: expansion of the premium tax credit (removing the 400% cap and adding a sliding scale) lowers marketplace insurance premiums and out-of-pocket costs for many enrollees.
Families with young children and working parents: guaranteed access to subsidized direct child care for children under 6 (starting Oct 1, 2026), reduced copays, and supports for parents engaging in work, training, or caregiving improves affordability and labor-force participation.
All taxpayers and the federal budget: multiple major expansions (recurring rebates, expanded premium tax credits, housing, child care, teacher pay, HCBS enhancements) substantially raise federal spending and could increase deficits or require offsets, affecting taxpayers through higher future taxes or reduced spending elsewhere.
States, tribes, local agencies, providers, and the IRS: new programs and changes add significant administrative, reporting, and compliance burdens (detailed reporting deadlines, new matching rules, program implementation requirements), which can increase costs, delay benefits, and strain capacity.
State budgets and service continuity: required state matches, supplement‑not‑supplant rules, reserve commitments, and implementation deadlines (for housing, child care, teacher pay, HCBS) can create fiscal pressure on states, risk uneven implementation, and may force tradeoffs with other state services.
Based on analysis of 20 sections of legislative text.
Imposes an annual wealth tax on high‑net‑worth individuals, funds IRS enforcement, expands rebates and subsidies, adds Medicare dental, and authorizes housing, child care, teacher pay, and HCBS actions.
Imposes a new annual tax on the net value of high‑net‑worth individuals' assets and directs a portion of that revenue to IRS enforcement; creates recurring affordability rebates beginning tax year 2026, expands premium tax credit eligibility by removing the 400% income cap, adds Medicare coverage for dental and oral health services (with dentures covered earlier), authorizes large annual Housing Trust Fund allocations for 2026–2035, establishes federal policy for minimum teacher base salaries (starting at $60,000 for new teachers in early years), and funds planning grants for Home and Community‑Based Services (HCBS). It also creates new child care definitions and program rules, requires state reporting and oversight, and includes various programmatic authorizations and appropriations.