The Labour Party has pledged to ringfence the revenue raised through the Universal Social Charge for future health spending.
The party said it would return the USC to the Health Contribution Charge in order to fund what it described as "a modern 21st century health service fit for a wealthy republic."
Labour's finance spokesperson Ged Nash ruled out any cuts to the levy, as has been proposed by some other parties, which he said would be "very irresponsible."
"The USC has developed a very bad reputation, but it is the definition of a progressive tax, and most of the USC is paid by the very highest of earners in this country."
Speaking at the launch of the party's economic and fiscal plan, Mr Nash said: "It' a very simple argument to say we'll cut your USC, rather than focus on the investment in public services that we need in this country."
He said the ringfencing of the revenue for health spending would also ensure accountability.
"The best way to make sure that the raising of taxes is transparent, and that expenditure is transparent, and that those who are spending are accountable is to ensure that the USC itself is now described as a charge for our health service, so people can see that and can see the benefits of it."
Among the other measures, Labour said it would establish a State construction company, aimed at "ending the boom and bust of housing provision".
Mr Nash said the party would allocate around half of the €14billion windfall funds from the Apple Tax case to finance the proposal.
He said such an service, which would be developed through the Land Development Agency, would "make sure that we use the resources that we have properly, that we will engage trades people on all of the different skill sets that we need to build the homes we want through the public service."
Mr Nash said the move would "create a new generation of public servants with the certainty and security of State jobs and future training and so on that goes with that to make sure that we end the boom and bust in housing".
Labour also said additional spending on public services and capital expenditure would be a redline issue for the party entering into a coalition government after the general election.
Mr Nash said people in Ireland "live in a very wealthy country that feels far too poor for far too many people, and our public investment levels, based on a range of different measurements, are low by the standards of other wealthy European countries."
"Families across this country are feeling that pain in terms of childcare, in terms of access to health services, if you have a child with disability, the waiting list to be assessed and seen."
Labour said it will "not engage in short-term tax cuts for populist appeal", but the party also committed to not raising the standard or higher rates of income tax, the USC rates, the standard rate of VAT or the rate of corporation tax.
"We have said that what we would do in terms of our own tax strategy is to increase tax on non-productive wealth to make sure that commitments we are making in terms of public spending into the future are fully funded.
"We would index both personal tax rates bands and credits and the USC rates as well to make sure that if you do get a pay increase, that that pay increase is not taken in terms of tax and USC and indeed as well, that the social protection system will see a form of indexation as well to make sure that the purchasing power of the pension under social welfare rates would be maintained."
Mr Nash said Labour believes "the best way is to focus the resources we do have on the public investment that we need, and not engaging in a frenzy of tax cuts that I think some people in government know, given the uncertainty and the risks we have at the moment, could actually very well be removed in short order."
He said we need to learn from the mistakes of the past.
"There needs to be a frankness and an honesty about the resources that we have available and indeed, if we do and we will require additional resources, where that revenue is going to be generated to pay for the additional public investment in a few years."
Mr Nash accused the outgoing Government parties of "trying to buy off voters" through the recent Budget measures.
He said the choice facing voters on 29 November is "irresponsible tax cuts or investment in the universal public services we all need".
