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(BUSINESS INSIDER) – California Democrats are moving ahead with a proposal to introduce universal healthcare in the state, proposing tax hikes on businesses and the wealthy to pay for the first-in-the-nation plan.
According to a report from the Associated Press, the plan has drawn opposition from Republicans, insurers, and some doctors in the state. California Assemblyman Ash Kalra proposed a Constitutional amendment to pay for the plan.
Under the proposal, businesses that make at least $2 million in annual revenue would be subject to a 2.3% payroll tax, companies with at least 50 employees would be subject to a 1.25% tax, and employers who pay employees at least $49,900 would be subject to a tax of a 1%, the AP reported.
The proposal also calls for increased taxes on some of California’s wealthiest citizens, including a 0.5% income tax on people earning at least $149,509 and a 2.5% tax for people earning more than $2.48 million per year, according to the AP.
