Democrats Will Push Buffet Rule “All Year Long”
Senate Democrats are teeing up a vote on the “Buffett Rule” legislation on the eve of Tax Day, and are pledging to push the issue all year as a defining contrast between the parties ahead of the election.
Senate Majority Leader Harry Reid scheduled the cloture vote for April 16, one day before taxes are due, on legislation that would require people making over $1 million to pay at least 30 percent of their income in taxes.
“We’re going to continue pushing this issue all year long. It’s an emerging contrast with Republicans,” said No. 3 Democratic Sen. Chuck Schumer (NY) on a conference call with reporters Thursday. He said Dems intend to hammer the fact that Republicans want to give even bigger tax cuts to high earners while forcing the middle class to hold the bag.
The bill, sponsored by Sen. Sheldon Whitehouse (D-RI), would raise some $50 billion in revenue, a small fraction of the deficit.
Read more at TPM…