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House Health Bill Would Impose 5.4 Percent Millionaires Surtax

By Ryan Donmoyer

July 14 (Bloomberg) -- Health-care legislation to be introduced by the House of Representatives today would impose a 5.4 percent surtax on couples earning more than $1 million.

The bill would also impose a 1.5 percent tax on couples with incomes between $500,000-$1 million and a 1 percent surtax on incomes over $350,000. The bill will be introduced by House Democrats today.

To contact the reporter on this story: Ryan J. Donmoyer in Washington at rdonmoyer@bloomberg.net

Last Updated: July 14, 2009 13:56 EDT

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