U.S. Senate Democrats Said to Consider Dropping Millionaire Surtax Plan

Senate Democrats are considering dropping their proposed tax surcharge on millionaires if Republicans agree to eliminate two of their proposals from legislation to extend a payroll-tax cut, a Senate Democratic leadership aide said.

Republicans object to the millionaire surcharge, while Democrats reject Republicans’ measures to speed approval of the Keystone XL oil pipeline and delay new pollution standards for industrial boilers.

The aide, who wasn’t authorized to speak publicly, didn’t say what Democrats may seek to substitute for the millionaire surcharge to pay for the payroll-tax cut.

To contact the reporter on this story: Kathleen Hunter in Washington at khunter9@bloomberg.net

To contact the editor responsible for this story: Laurie Asseo at lasseo1@bloomberg.net

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