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QUICK TAKE: Democrats Plan to Push 'Millionaire's Tax' QUICK TAKE: Democrats Plan to Push 'Millionaire's Tax' QUICK TAKE: Democrats Plan to Push 'Millionaire's Tax' QUICK TAKE: Democrats Pla...

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Congress / CONGRESS

QUICK TAKE: Democrats Plan to Push 'Millionaire's Tax'

photo of Dan  Friedman
January 24, 2012

Democratic members of a conference committee working on a long-term extension of a payroll-tax holiday and other programs will urge a surtax on incomes of more than a million dollars a year to pay for the bill when talks officially start today, said Senate Majority Leader Harry Reid, D-Nev., on Tuesday. Conferees "are going to push that," Reid said. Democrats pushing the so-called millionaire's tax will complicate the taxes. Last fall, Senate Republicans who say they want a payroll deal blocked a series of Democratic bills to spur hiring because of the millionaire's surtax.

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