Democrats to target millionaires with tax legislation

Question of the Day

Is it still considered bad form to talk politics during a social gathering?

View results

Democrats in the Senate are gearing up legislation that will offset proposed spending cuts to federal agencies and the Pentagon, with a focus on imposing taxes on million-dollar earners.

The Associated Press reports that the bill, to be announced Thursday, will set a minimum tax rate on those who earn at least a million dollars, at the same time cutting farm subsidies substantially. The bill comes as a Democratic answer to the automatic cuts that are set to take place in two weeks.

Republicans are already lining up to oppose the bill, the AP says. They aren’t on board with anything that brings new tax increases, AP reports.

© Copyright 2014 The Washington Times, LLC. Click here for reprint permission.

Comments
blog comments powered by Disqus
TWT Video Picks