Pres. Barack Obama can count on one fewer Democrat in the U.S. Senate to support his plan to increase taxes on those making more than $1 million a year.
Sen. Mark Pryor, D-Arkansas, issued a statement “in opposition to the Buffett rule” on Monday evening (April 16):
“There is no disputing that the wealthy should pay their fair share in taxes. This inequity should be fixed as part of broad tax reform, not as a political ploy meant to score points. A serious, bipartisan effort to reform the tax code could pass Congress and be signed into law, ensuring that employees no longer write larger checks to Uncle Sam than their CEOs,” Pryor said.
The Senate was expected to push for a vote on the measure today, but a motion to advance the proposal was not expected to have 60 votes needed for the procedural maneuver.
The bill, originally proposed as a concept by billionaire investor Warren Buffett, is sponsored by Sen. Sheldon Whitehouse, D-R.I., and has been touted significantly by Pres. Obama as a tax fairness issue. It is projected to raise about $48 billion over a ten-year period.
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