As we reported last night, Senate Majority Leader Harry Reid (D-NV) proposed a 5% surtax on those earning over $1 million per year in order to pay for President Obama’s American Jobs Act. The proposal would raise $445 billion over 10 years, sufficient to cover the proposed spending in the president’s jobs plan.
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=148053