Senate Majority leader Harry Reid and Democratic leaders called
Wednesday for increasing taxes on millionaires to pay for President
Obama's jobs bill.
"We're going to move to have the richest of the rich pay a little bit
more." said Reid (D-Nev.) at a press conference Wednesday. "We're
going to do everything we can to get Americans back to work, even if
it means millions of Americans have to contribute a little bit more
tomorrow than they do today."
Senate Democrats jettisoned Obama’s proposal to raise taxes on
families making more than $250,000, raising the threshold to $1
million in an attempt to win more Democratic votes.
Democratic leaders say they want to impose a 5 percent surtax on the
tax liability of millionaires, which would raise about $445 billion
over 10 years — roughly the cost of Obama’s jobs proposal.
For the latest on the Senate Democrat's tax proposal, click here.
