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H.428

SHORT FORM

Introduced by   Representative Kiss of Burlington

Referred to Committee on

Date:

Subject:  Health care; comprehensive health care reform; Medicaid; taxation

Statement of purpose:  This bill proposes to establish a plan that would allow Vermont to maintain the benefits and services currently covered in the Medicaid program and at the same time set a reasonable time frame within which comprehensive health care reform could take place.  First, it would require all Vermonters to share the burden of the immediate Medicaid shortfall by raising taxes.  Specifically, this bill would raise $95 million through a variety of tax changes, including extending the six percent sales tax to professional, scientific, and technical services; an increase in the marginal income tax rate from 9.5 percent to 10.5 percent and a reduction in the threshold for the income bracket subject to that marginal rate; and eliminating the 40 percent capital gains exclusion.  These taxes, however, would sunset in four years.  As a result, the general assembly would have three years to fund Medicaid with the revenue raised by the new taxes and, during that time, design and implement comprehensive health care reform which would promote the financial sustainability of the Medicaid program, specifically, and the broader health care system, more generally.

AN ACT RELATING TO FUNDING THE MEDICAID PROGRAM AND ENGAGING IN OVERALL HEALTH CARE REFORM

It is hereby enacted by the General Assembly of the State of Vermont:

(TEXT OMITTED IN SHORT-FORM BILLS)



Published by:

The Vermont General Assembly
115 State Street
Montpelier, Vermont


www.leg.state.vt.us