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16 Apr

Buffett rule fails Senate vote in tax fight

President Barack Obama speaks about the Buffett Rule in the Eisenhower Executive Office Building on the White House complex in WashingtonWASHINGTON (Reuters) - Senate Republicans on Monday blocked President Barack Obama’s “Buffett Rule” legislation, which would have put a 30-percent minimum tax on millionaires, in a debate that is likely to resonate through the November general election. Democrats, as expected, failed to garner the 60 votes needed in the 100-member Senate to move to a full debate and vote on the bill aimed at getting more tax revenues out of the wealthy. Obama and congressional Republicans are squaring off this week over the tax hikes for millionaires and a Republican plan to give new tax cuts for businesses. …

Original post by Reuters and software by Elliott Back



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