U.S. Senator Elizabeth Warren proposed a universal childcare program paid for by a tax on high-net-worth individuals.
The program, Warren said would help families unable to find affordable care and would be funded largely by the federal government.
The proposed tax would apply to individuals with a net worth of $50 million or higher, which Warren has dubbed the “Ultra-Millionare Tax.”
Her campaign estimates the tax would generate $2.75 trillion in government revenue in 10 years.