Sponsors (2)
Introduced March 2, 2026 by Bernard Sanders · Last progress March 2, 2026
The bill expands major social and health benefits (affordable housing, subsidized child care, Medicare dental/vision/hearing, teacher pay, HCBS) while financing parts of it via a new wealth tax—trading broader access to services and immediate household relief for much larger federal spending, increased administrative complexity, and new tax, reporting, and implementation burdens.
Low-income renters and communities: $85.647 billion per year (2026–2035) for affordable housing construction, preservation, and rental assistance, expanding access to stable housing and local construction jobs.
Parents and families with children under 6: guaranteed access to subsidized, higher-quality child care starting Oct 1, 2026, with expanded eligibility (up to 250% of state median), higher provider payment rates, and protections for vulnerable children.
Medicare beneficiaries (seniors and people with disabilities): new Part B coverage for dental (including dentures), vision, and hearing services phased in 2027–2028, with preventive dental services covered at 100% and added payment incentives to encourage provider participation in underserved areas.
All taxpayers: the bill substantially increases federal outlays across housing, child care, teacher pay, Medicare expansions, and other programs, raising deficits or requiring offsets through higher taxes or spending cuts elsewhere.
Federal agencies, state governments, providers, and beneficiaries: the package adds significant administrative complexity—new rules, fee schedules, reporting, audits, and program transitions—that will increase compliance costs and implementation risk during rollout.
States and local governments: new maintenance‑of‑effort, matching, and program requirements (child care, teacher pay, HCBS, housing) could force budget reallocations, increased state/local taxes, or difficult tradeoffs in other services.
Based on analysis of 20 sections of legislative text.
Creates a new federal net wealth tax, expands rebates and premium tax credit subsidies, adds Medicare dental, and funds housing, child care, HCBS planning, and minimum teacher salaries.
Creates a new federal net wealth tax on very high‑net‑worth taxpayers, changes several tax credits and rebates, and directs new and expanded federal spending across health care, housing, child care, teacher pay, and home‑and‑community services. It adds Medicare Part B coverage for many dental and oral health services, replaces a 2021 recovery rebate with a larger 2026 “affordability rebate,” removes the statutory 400% income cap on premium tax credits (with new sliding percentages), and requires major program definitions, reporting, monitoring, and matching rules for a federal birth‑through‑five child care entitlement and related grants. Also authorizes and appropriates funds: a large multi‑year authorization for the Housing Trust Fund, one‑time HCBS planning grants, annual IRS enforcement funding tied to new tax revenues and a mandate to audit at least half of taxpayers subject to the new tax, and sets a federal minimum starting teacher salary schedule (first‑year minimum $60,000 for FY2027–2031) with automatic adjustments over time.