In addition to canceling student loan debt, Independent Vermont Sen. Bernie Sanders Opens a New Window. will introduce a new proposal to eliminate Americans’ medical Opens a New Window. debt.

He has said that taxes on the middle-class will rise in order to fund the plan, but has added that overall health care costs will be lower. The senator has estimated taxes could increase by $10,000 for American families.

Sanders has also proposed canceling $1.6 trillion worth of student loan debt, which he plans to pay for by introducing a financial transaction tax on Wall Street. The “Inclusive Prosperity Act” calls for a tax of 0.5 percent for stock trades, 0.1 percent for bonds and 0.005 percent for derivatives. A $1,000 stock trade would be taxed $5, while a $1,000 trade in derivatives would be taxed $0.05.