Sanders introduces a bill that would eliminate undergraduate tuition. His College for All Act would eliminate the $70 billion dollar tuition costs at all 4-year public colleges and universities. Under the plan, the Federal Government would cover 67% — $47 billion dollars each year — of the costs, with states required to produce the remaining 33% ($23 billion). The bill plans to cover these costs by initiating a “Robin Hood Tax” on Wall Street. A .5% speculation fee will be charged on investment houses, hedge funds, and other stock trades. Additionally, a .1% fee will be charged on bonds, and a .005% fee will be charged on derivatives.