Buffet Rule is blocked by GOP in Senate

We knew that this wasn’t going to be easy. The Republicans will continue to side with millionaries and billionaires. We must continue the pressure.

From TPM:

Senate Republicans defeated a motion to take up Buffett Rule legislation the day before taxes are due.

Democrats fell short of the 60 votes needed to advance the bill late Monday. The final party-line vote was 51 in favor, 45 against, with Sens. Susan Collins (R-ME) and Mark Pryor (D-AR) breaking ranks with their leadership. The sharp contrast promises to be a defining issue in the presidential election this November.

The principle behind the rule — that people making over $1 million a year should pay at least 30 percent in taxes — was championed by President Obama in his State of the Union this year and subsequently written into legislation by Sen. Sheldon Whitehouse (D-RI). The rule includes nuances and exceptions aimed at minimizing adverse incentives. It’s expected to raise tax receipts by $47 billion over 10 years, although Democrats say that figure would be at least $160 billion if the Bush tax cuts are extended.

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ABOUT AUTHOR
Errington C. Thompson, MD

Dr. Thompson is a surgeon, scholar, full-time sports fan and part-time political activist. He is active in a number of community projects and initiatives. Through medicine, he strives to improve the physical health of all he treats.

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The Thirteeneth Juror

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