–Key Democratic Senator Says Vote Is About Revenues and Fairness
–Sen. Schumer: Dems Want To Pass Leg, Frame Issues For Campaign
By John Shaw
WASHINGTON (MNI) – Sen. Chuck Schumer, the third ranking Senate
Democrat, said Monday that Democrats will force multiple votes this year
on the so-called Buffett Rule, arguing that formal Senate votes will
both build public support for the measure and force Republicans to cast
difficult political votes.
“We are going to come back to this issue repeatedly,” Schumer
vowed in a conference call with reporters. Schumer was joined on the
call by Democratic senator Sheldon Whitehouse, the lead sponsor of the
bill.
The Senate will hold a procedural vote Monday evening at 5:30 p.m.
on the “Buffett Rule” bill which would set a minimum effective tax rate
for high-income earners.
The specific bill, which is being pushed by Senate Democratic
leaders, would require people who earn more than $1 million annually to
pay a minimum tax rate of 30%.
To advance in the Senate, the bill will require 60 votes which is
very unlikely.
Schumer said passing the Buffett Rule would help generate about $47
billion over a decade and would also make the tax code more fair.
Schumer said the Democratic push for the Buffett Rule has put
Republicans “on the defensive” on the tax issue that the GOP has used
skillfully for several decades.
“Are they for it or against it? They won’t say,” Schumer said in
summarizing the GOP stance on the Buffett Rule legislation.
Many Republicans have said the Buffett Rule issue is little more
than a political ploy by Democrats to embarrass the GOP on taxes.
Schumer said Democrats are approaching the coming months of the
legislative session with an eye toward passing specific bills to boost
the economy and framing issues for the November elections.
“We are going to work on both fronts,” Schumer said.
** MNI Washington Bureau: (202) 371-2121 **
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