AP sources: Reid wants millionaire surtax
WASHINGTON (AP) — Senate Democrats are getting ready to jettison provisions President Barack Obama wants to pay for his jobs bill and substitute a surcharge on millionaires. The change is designed to unify the party for a protracted political struggle with Republicans.
According to participants in a closed-door meeting, Majority Leader Harry Reid outlined the alternative to members of the rank and file during the day.
Obama has proposed higher taxes on incomes over $250,000 as well as on the oil and gas industry to pay for his $477 billion jobs measure, but those drew objections from several Democrats.
Democrats discussed the issue as Obama made the latest in a series of increasingly caustic public pitches for the legislation, and Senate Republicans unsuccessfully demanded an immediate vote on the measure