Bernie Sanders’ campaign is calling for full economic growth in the U.S. and in the world, and a new tax plan to balance the books.
In a speech Tuesday at the University of Massachusetts Amherst, Sanders called for a tax cut that would generate enough revenue to pay for tax cuts for middle-class Americans and a cap on income inequality.
Sanders’ proposal for the tax cut was presented as a way to boost revenue and reduce the tax burden for middle class families.
It would be financed through raising revenue from the wealthy and taxing the wealthiest individuals and corporations.
Sanders also called for raising the federal minimum wage to $15 an hour.
The minimum wage in the United States has been frozen since 2009.
In a separate speech Tuesday, Sanders said that “when it comes to raising the minimum wage, we cannot afford to lose any of the gains that we’ve made from raising it to $12 an hour.”
Sanders said his plan would raise $1 trillion over the next decade by raising the personal income tax rate to 35 percent, which he said would be paid for by a 3.8 percent payroll tax hike.
He said that would raise over $3 trillion over 10 years.
Sanders called for an end to the tax loopholes and deductions that have helped the wealthiest Americans get away with tax avoidance and avoidance of taxes.
Sanders also called on Congress to pass a “fair” corporate tax reform plan that would not add to the debt.
The senator said he would be willing to negotiate an economic stimulus package with Republicans if the plan was bipartisan.
Sanders said he also would work with Democrats and other parties to provide “a new tax code that works for everyone.”
Sanders has been in the spotlight since the summer over his position on tax reform.
The Vermont senator has not said if he will seek the Democratic presidential nomination in 2020.