Vt. senator pushes funding plan for single-payer - WCAX.COM Local Vermont News, Weather and Sports-

Vt. senator pushes funding plan for single-payer

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MONTPELIER, Vt. -

The governor doesn't want to tackle it this year, but a state senator says he knows how to pay for single-payer health care.

Sen. Peter Galbraith suggests taxing employers 11 percent of what they spend on payroll. Employees would be subject to a 2 percent tax on wages.

Galbraith tells WCAX News his proposal is really the only way to raise the $1.6 billion necessary to run the program.

"If it turns out that the figure is higher and I've heard figures as high as $2 billion, than you would simply adjust the rates up on the payroll tax, but the point is that it is not difficult to figure out how to pay for Green Mountain Care, there is no other tax that can raise that kind of money," said Sen. Peter Galbraith, D-Windham County.

Galbraith says the effective tax rate for businesses will be lower than 11 percent because businesses will be able to deduct it from federal filings.

The bill also includes measures to tax non-wage earnings and exempts federally insured individuals.

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