Reid to meet with Obama at White House after altering jobs bill

Senate Majority Leader Harry Reid (D-Nev.) noted from the Senate floor that he has a 5:30 p.m. meeting at the White House with three senators from his Democratic caucus.

The meeting comes on the heels of major changes Reid has proposed for President Obama’s hallmark jobs package. Reid’s new plan replaces Obama’s proposed taxes on oil companies and families earning more than $250,000 a year with a surtax on millionaires. The surtax is designed to pay for the bill’s $447 billion in spending over the next 10 years.

Late Wednesday, Reid changed his bill from a 5.0 percent tax on earnings higher than $1 million to a 5.6 percent tax, and also delayed the implementation of that tax from 2012 to 2013.

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