By Sam Baker - 05/09/11 04:08 PM EDT
It would be funded through a series of tax increases on businesses and individuals, as well as money that otherwise would have been set aside for subsidies and tax credits under healthcare reform.
Sanders and McDermott are scheduled to discuss the bill at a press conference Tuesday morning.
Sanders is a longtime advocate for single-payer health coverage. Both chambers of the state legislature in Vermont have passed a bill moving the state toward a single-payer system. Gov. Peter Shumlin (D) is expected to sign the bill.