Senate Democrats Weigh 3% Tax on Millionaires

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.

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.

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