Senate Democrats Seek 5% Millionaire Tax to Pay for Job Plan
This article is for subscribers only.
Senate Democratic leaders proposed imposing a surtax on people earning at least $1 million a year to pay for President Barack Obama’s jobs plan, an idea immediately rejected by Republicans as lawmakers head for a showdown over how to boost the economy.
President Barack Obama said today he is “comfortable” with the proposal. “I’m fine with the approach they’re taking,” he said at a news conference in Washington while urging Congress to pass the measure and give the economy a “jolt.”