Senate Democrats Weigh 3% Tax on Millionaires

Politics Reuters

People who earn more than $1 million per year would face a 3 percent surtax under a plan that has been floated by the Senate's top budget writer, a congressional source said on Wednesday.

Continue Reading Below

That plan, which is being drafted by Democratic Senator Kent Conrad, would allocate $34 billion less than President Barack Obama has requested for national parks, education and other domestic discretionary programs which have their funding levels set annually by Congress, the source said.

What do you think?

Click the button below to comment on this article.