Senate Dems propose surcharge on millionaires

By Susan Ferrechio

Published October 5, 2011 4:00am ET

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Senate Dems propose surcharge on millionaires — Senate Democrats, unable to secure enough votes within their own party to pass President Obama’s $447 billion jobs plan, rewrote a key component of that plan to replace the higher taxes Obama wanted on households earning $250,000 or more a year with a new 5 percent surcharge on those earning $1 million or more annually. […]

Senate Democrats, unable to secure enough votes within their own party to pass President Obama’s $447 billion jobs plan, rewrote a key component of that plan to replace the higher taxes Obama wanted on households earning $250,000 or more a year with a new 5 percent surcharge on those earning $1 million or more annually.

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